Tender 39

Announcement

The Australian Office of Financial Management (AOFM) will hold a tender for the repurchase of two outstanding Treasury Bond lines on Monday, 8 October 2018. 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 ($million) 500
Series to be Repurchased 2.75% 21 October 2019 1.75% 21 November 2020
Series Number TB143 TB146
ISIN AU3TB0000184 AU000XCLWAN8
Maximum Volume of Series to be repurchased – Subject to Total Tender Size ($million) 400 400
First Coupon Payment Due 21 October 2018 21 November 2018
First Coupon Payment Amount (per $100 face value) $1.375 $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 Daylight Time on Monday, 8 October 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, 10 October 2018.

Last updated: 8 October 2018

Results

Auction Summary
Tender Size ($m) 500
Offers Accepted ($m) 500
Offers Received ($m) 2,079
Coverage Ratio 4.1580
Treasury Bonds Purchased
Series Repurchased 2.75% 21 October 2019 1.75% 21 November 2020
Series ID TB143 TB146
ISIN AU3TB0000184 AU000XCLWAN8
Offers Accepted ($m) 400 100
Weighted Average Accepted Yield (%) 1.9050 2.0108
Lowest Yield Accepted (%) 1.9050 2.0100
Highest Yield Accepted (%) 1.9050 2.0125
Total Amount of All Offers Received ($m) 1,136 943
Total Number of Offers 19 19
Total Number of Successful Offers 3 5
Number of Offers Accepted in Full 3 2
Best Offer (%) 1.9050 2.0125
Worst Offer (%) 1.8800 1.9900
Weighted Average Offer (%) 1.8989 2.0033
Amount Repurchased at Lowest Accepted Yield as Percentage of Amount Offered at that Yield* 100 86.1

Last updated: 8 October 2018