Tender 41

Announcement

The Australian Office of Financial Management (AOFM) will hold a tender for the repurchase of two outstanding Treasury Bond lines on Monday, 5 November 2018. 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 ($million) 500
Series to be Repurchased 4.50% 15 April 2020 1.75% 21 November 2020
Series Number TB126 TB146
ISIN AU3TB0000036 AU000XCLWAN8
Maximum Volume of Series to be repurchased – Subject to Total Tender Size ($million) 400 400
First Coupon Payment Due 15 April 2019 21 November 2018
First Coupon Payment Amount (per $100 face value) $2.25 $0.875

*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 Yieldbroker DEBTS, between 10.00 am and 10.10 am Australian Eastern Daylight Time on Monday, 5 November 2018.

All offers must comply with the Information Memorandum for Treasury Bonds [PDF 792KB | RTF 1.215MB] dated 3 October 2017.

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, 7 November 2018.

Last updated: 5 November 2018

Results

Tender Size ($m) 500
Offers Accepted ($m) 500
Offers Received ($m) 1,353
Coverage Ratio 2.7060
Treasury Bonds Purchased
Series Repurchased 4.50% 15 April 2020 1.75% 21 November 2020
Series ID TB126 TB146
ISIN AU3TB0000036 AU000XCLWAN8
Offers Accepted ($m) 100 400
Weighted Average Accepted Yield (%) 1.9954 2.0436
Lowest Yield Accepted (%) 1.9925 2.0425
Highest Yield Accepted (%) 2.0000 2.0450
Total Amount of All Offers Received ($m) 438 915
Total Number of Offers 12 17
Total Number of Successful Offers 8 5
Number of Offers Accepted in Full 6 2
Best Offer (%) 2.0000 2.0450
Worst Offer (%) 1.9800 2.0100
Weighted Average Offer (%) 1.9907 2.0399
Amount Repurchased at Lowest Accepted Yield as Percentage of Amount Offered at that Yield* 6 83.6

Last updated: 5 November 2018