Tender 5

Announcement

The Australian Office of Financial Management (AOFM) will hold a tender for the repurchase of two outstanding Treasury Bond lines on Monday, 6 March 2017. 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 ($million) 600
Series to be Repurchased 3.25% 21 October 2018 5.25% 15 March 2019
Series Number TB141 TB122
ISIN AU3TB0000176 AU300TB01224
Maximum Volume of Series to be repurchased – Subject to Total Tender Size ($million) 500 500
First Coupon Payment Due* 21 April 2017 15 September 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, 6 March 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, 8 March 2017.

Last updated: 6 March 2017

Results

Auction Summary
Tender Size ($million) 600
Offers Accepted ($million) 600
Coverage Ratio 3.755
Treasury Bonds Purchased
Series Repurchased 3.25% 21 Oct 2018 5.25% 15 Mar 2019
Offers Accepted ($million) 269 331
Total Number of Offers Received 17 18
Total Amount of All Offers Received ($million) 780 1473
Total Number of Successful Offers 11 9
Lowest Yield Accepted (%) 1.75 1.835
Highest Yield Accepted (%) 1.765 1.84
Weighted Average Accepted Yield (%) 1.7556 1.8375
Lowest Yield Accepted in Full 1.7525 1.8375
Number of Offers Accepted in Full 9 5
Best Offer (%) 1.765 1.84
Worst Offer (%) 1.74 1.8275
Weighted Average Offer (%) 1.749 1.832
Amount Repurchased at Lowest Accepted Yield as Percentage of Amount Offered at that Yield* 21.8 21.8
Yieldbroker Mid-Rate Yield (%) 1.752 1.8353
*Individual allotments may vary due to rounding.

Last updated: 6 March 2017