Tender 38

Announcement

The Australian Office of Financial Management (AOFM) will hold a tender for the repurchase of two outstanding Treasury Bond lines on Monday, 24 September 2018. The total tender size will be $800 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 ($million) 800
Series to be Repurchased 2.75% 21 October 2019 4.50% 15 April 2020
Series Number TB143 TB126
ISIN AU3TB0000184 AU3TB0000036
Maximum Volume of Series to be repurchased – Subject to Total Tender Size ($million) 700 700
First Coupon Payment Due 21 October 2018 15 October 2018
First Coupon Payment Amount (per $100 face value) $1.375 $2.25

*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, 24 September 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, 26 September 2018.

Last updated: 24 September 2018

Results

Auction Summary
Tender Size ($m) 800
Offers Accepted ($m) 800
Offers Received ($m) 1,970
Coverage Ratio 2.4625
Treasury Bonds Purchased
Series Repurchased 2.75% 21 October 2019 4.50% 15 April 2020
Series ID TB143 TB126
ISIN AU3TB0000184 AU3TB0000036
Offers Accepted ($m) 310 490
Weighted Average Accepted Yield (%) 1.9857 2.0344
Lowest Yield Accepted (%) 1.9800 2.0225
Highest Yield Accepted (%) 1.9900 2.0425
Total Amount of All Offers Received ($m) 956 1,014
Total Number of Offers 24 21
Total Number of Successful Offers 9 12
Number of Offers Accepted in Full 7 9
Best Offer (%) 1.9900 2.0425
Worst Offer (%) 1.9425 1.9700
Weighted Average Offer (%) 1.9733 2.0221
Amount Repurchased at Lowest Accepted Yield as Percentage of Amount Offered at that Yield* 35.5 35.5

Last updated: 24 September 2018