Tender 56

Announcement

The Australian Office of Financial Management (AOFM) will hold a tender for the repurchase of two outstanding Treasury Bond lines on Monday, 13 May 2019. 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) 450 450
First Coupon Payment Due 15 October 2019 21 November 2019
First Coupon Payment Amount (per $100 face value) $2.250 $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 Standard Time on Monday, 13 May 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, 15 May 2019.

Last updated: 13 May 2019

Results

 

Auction Summary
Tender Size ($m) 500
Offers Accepted ($m) 500
Offers Received ($m) 2,084
Coverage Ratio 4.1680
Treasury Bonds Purchased
Series Repurchased 4.50% 15 April 2020 1.75% 21 November 2020
Series ID TB126 TB146
ISIN AU3TB0000036 AU000XCLWAN8
Offers Accepted ($m) 50 450
Weighted Average Accepted Yield (%) 1.3976 1.3251
Lowest Yield Accepted (%) 1.3975 1.3225
Highest Yield Accepted (%) 1.4025 1.3275
Total Amount of All Offers Received ($m) 974 1,110
Total Number of Offers 16 17
Total Number of Successful Offers 3 11
Number of Offers Accepted in Full 1 6
Best Offer (%) 1.4025 1.3275
Worst Offer (%) 1.3700 1.3050
Weighted Average Offer (%) 1.3896 1.3214
Amount Repurchased at Lowest Accepted Yield as Percentage of Amount Offered at that Yield* 31.6 5.1

Last updated: 13 May 2019