Tender 50

Announcement

The Australian Office of Financial Management (AOFM) will hold a tender for the repurchase of two outstanding Treasury Bond lines on Monday, 18 March 2019. 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 ($million) 600
Series to be Repurchased 1.75% 21 November 2020 5.75% 15 May 2021
Series Number TB146 TB124
ISIN AU000XCLWAN8 AU0000XCLWM5
Maximum Volume of Series to be repurchased – Subject to Total Tender Size ($million) 550 550
First Coupon Payment Due 21 May 2019 15 May 2019
First Coupon Payment Amount (per $100 face value) $0.875 $2.875

*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, 18 March 2019.

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, 20 March 2019.

Last updated: 18 March 2019

Results

Auction Summary
Tender Size ($m) 600
Offers Accepted ($m) 600
Offers Received ($m) 2,267
Coverage Ratio 3.7783
Treasury Bonds Purchased
Series Repurchased 1.75% 21 November 2020 5.75% 15 May 2021
Series ID TB146 TB124
ISIN AU000XCLWAN8 AU0000XCLWM5
Offers Accepted ($m) 485 115
Weighted Average Accepted Yield (%) 1.6066 1.5900
Lowest Yield Accepted (%) 1.6000 1.5900
Highest Yield Accepted (%) 1.6100 1.5900
Total Amount of All Offers Received ($m) 1,267 1,000
Total Number of Offers 20 14
Total Number of Successful Offers 8 2
Number of Offers Accepted in Full 4 0
Best Offer (%) 1.6100 1.5900
Worst Offer (%) 1.5875 1.5750
Weighted Average Offer (%) 1.5994 1.5825
Amount Repurchased at Lowest Accepted Yield as Percentage of Amount Offered at that Yield* 53.6 53.5

Last updated: 18 March 2019