Tender 4

Announcement

The Australian Office of Financial Management (AOFM) will hold a tender for the repurchase of two outstanding Treasury Bonds on Monday, 23 January 2017. The total tender size will be $500 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 ($million) 500
Series to be Repurchased 3.25% 21 October 2018 5.25% 15 March 2019
Series Number TB141 TB122
ISIN AU3TB0000176 AU300TB01224
Maximum Volume of Series to be repurchased – Subject to Total Tender Size ($million) 400 400
First Coupon Payment Due* 21 April 2017 15 March 2017
First Coupon Payment Amount (per $100 face value) 1.625 2.625

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

Lodgment 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, 23 January 2017.

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 lodgment of offers.

Settlement Arrangements

Successful offers for Treasury Bonds repurchased in the tender must be settled in the Austraclear System on Wednesday, 25 January 2017.

Last updated: 23 January 2017

Results

Monday, 23 January 2017

Summary

Tender Size ($m) 500
Offers Accepted ($m) 500
Offers Received ($m) 1,610
Coverage Ratio 3.2200
Treasury Bonds Purchased
Series Repurchased 3.25% 21 October 2018 5.25% 15 March 2019
Series ID TB141 TB122
ISIN AU3TB0000176 AU300TB01224
Offers Accepted ($m) 100 400
Weighted Average Accepted Yield (%) 1.8275 1.8999
Lowest Yield Accepted (%) 1.8250 1.8975
Highest Yield Accepted (%) 1.8300 1.9025
Total Amount of All Offers Received ($m) 655 955
Total Number of Offers 15 14
Total Number of Successful Offers 5 4
Number of Offers Accepted in Full 2 3
Best Offer (%) 1.8300 1.9025
Worst Offer (%) 1.8175 1.8825
Weighted Average Offer (%) 1.8223 1.8943
Amount Repurchased at Lowest Accepted Yield as Percentage of Amount Offered at that Yield* 25 33.3

Last updated: 23 January 2017