Tender 45

Announcement

The Australian Office of Financial Management (AOFM) will hold a tender for the repurchase of two outstanding Treasury Bond lines on Monday, 14 January 2019. The total tender size will be $1,000 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 ($million) 1,000
Series to be Repurchased 4.50% 15 April 2020 1.75% 21 November 2020
Series Number TB126 TB146
ISIN AU3TB0000036 AU000XCLWAN8
Maximum Volume of Series to be repurchased – Subject to Total Tender Size ($million) 900 900
First Coupon Payment Due 15 April 2019 21 May 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 Daylight Time on Monday, 14 January 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, 16 January 2019.

Last updated: 14 January 2019

Results

Auction Summary
Tender Size ($m) 1,000
Offers Accepted ($m) 1,000
Offers Received ($m) 3,713
Coverage Ratio 3.7130
Treasury Bonds Purchased
Series Repurchased 4.50% 15 April 2020 1.75% 21 November 2020
Series ID TB126 TB146
ISIN AU3TB0000036 AU000XCLWAN8
Offers Accepted ($m) 620 380
Weighted Average Accepted Yield (%) 1.8990 1.8750
Lowest Yield Accepted (%) 1.8850 1.8725
Highest Yield Accepted (%) 1.9050 1.8750
Total Amount of All Offers Received ($m) 2,373 1,340
Total Number of Offers 28 19
Total Number of Successful Offers 7 5
Number of Offers Accepted in Full 6 4
Best Offer (%) 1.9050 1.8750
Worst Offer (%) 1.8600 1.8575
Weighted Average Offer (%) 1.8786 1.8681
Amount Repurchased at Lowest Accepted Yield as Percentage of Amount Offered at that Yield* 0.8 1

Last updated: 14 January 2019