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