Tender 3

Announcement

The Australian Office of Financial Management (AOFM) will hold a tender for the repurchase of two outstanding Treasury Bonds on Monday, 21 November 2016. The total tender size will be $600 million, with the volume to be repurchased of each Treasury Bond line subject to a maximum*. Details of the tender are set out below.

Total Tender Size ($million) 600
Series Offered 5.50% 21 January 2018 3.25% 21 October 2018
Series Number TB132 TB141
ISIN AU3TB0000093 AU300TB0000176
Maximum Volume of Series to be Repurchased – Subject to Total Tender Size ($million) 400 400
First Coupon Payment Due 21 January 2017 21 April 2017
First Coupon Payment Amount (per $100 face value) $2.750 $1.625

*If there are insufficient offers at yields the AOFM judges to be acceptable, a lower amount of Treasury Bonds may be repurchased.

Lodgement of Offers

Offers may be lodged by Registered Bidders through the AOFM Tender System, which is accessed via the Yieldbroker DEBTS System, between 9.45 am and 10.00 am Australian Eastern Daylight Time on Monday, 21 November 2016.

All offers must comply with the Information Memorandum for Treasury Bonds [PDF 792KB | RTF 1.215MB] dated 27 July 2016.

Announcement of Results

The results of the tender are expected to be announced as soon as practicable after the closing time for the lodgement of offers.

Settlement Arrangements

Successful offers for Treasury Bonds repurchased in the tender must be settled in the Austraclear System on Wednesday, 23 November 2016.

Last updated: 21 November 2016

Results

Monday, 21 November 2016

Summary

Tender Size ($million) 600
Offers Accepted ($million) 600
Total Offers Received ($million) 2,501
Coverage Ratio 4.1683

Treasury Bonds Repurchased

Series Repurchased 5.50% 21 January 2018 3.25% 21 October 2018
Series ID TB132 TB141
ISIN AU3TB0000093 AU3TB0000176
Offers Accepted ($million) 340 260
Weighted Average Accepted Yield (%) 1.6946 1.7353
Lowest Yield Accepted (%) 1.6900 1.7325
Highest Yield Accepted (%) 1.7050 1.7375
Volume of Offers Received ($million) 1,175 1,326
Number of Offers 19 24
Number of Successful Offers 9 8
Number of Offers Allocated in Full 7 5
Best Offer (%) 1.7050 1.7375
Worst Offer (%) 1.6600 1.6925
Weighted Average Offer (%) 1.6863 1.7237
Amount Repurchased at Lowest Accepted Yield
as Percentage of Amount Offered at that Yield*
20 20

*Individual allotments may vary due to rounding.

Last updated: 21 November 2016