Government Switch Bond Auctions

Government Switch Bond Auctions

1 .) Government Switch Bond Auction Invitation2018/10/11 13:45:27
Participation in the following NT switch bond auction is invited:
Auction Date2018/10/11
Settlement Date 2018/10/16
Start Time14:00:00 PM
Closing Time14:30:00 PM
Results at15:00:00 PM
Indicative yield to be released at 13:45:00 PM
Source BondIndic Yld On OfferIndic Yld
Source BondDest Bond
R 2046.07010,000R R2023,R186,R2030,R20328.70%, 9.33%, 9.75%, 9.94%
R 2046.070R R209,R2037,R2044,R204810.06%, 10.17%, 10.28%, 10.26%
R 2077.290R R186,R209,R2037,R20489.33%, 10.06%, 10.17%, 10.26%
R 2087.870R R186,R209,R2037,R20489.33%, 10.06%, 10.17%, 10.26%
The NT reserves the right to decide on the min and max amount to be allocated.
For any queries contact the dealing desk on (012) 313-4952
2 .) Government Switch Bond Auction Results2018/10/11 14:54:32
Auction Date2018-10-11
Settlement Date 2018-10-16
Destination Bonds202318620302032
Outstanding Amounts80,657212,952119,74095,600
Lowest Yield Allotted (%) 8.7009.3309.7509.940
Weighted Average Yield (%) 8.7009.3309.7509.940
Nominal of Dest. Bond (R''m)242912229234
Highest Yield Allocated in Full 8.7009.3309.7509.940
Worst Bid Received8.709.339.759.94
Source BondR204
Nominal of Source Bond Switched (R''m)230975200200
Total Number of Bids Received2611
Total Amt of Bids Received (R''m)230975200200
Total Number of Successful Bids 2611
Results Page 2
Destination Bonds209203720442048
Outstanding Amounts99,383115,879128,661201,532
Lowest Yield Allotted (%) 10.06010.17010.28010.260
Weighted Average Yield (%) 10.06010.17010.28010.260
Nominal of Dest. Bond (R''m)5942344441,304
Highest Yield Allocated in Full 10.06010.17010.28010.260
Worst Bid Received10.0610.1710.2810.26
Source Bond204
Nominal of Source Bond Switched (R''m)4002003801,105
Total Number of Bids Received1124
Total Amt of Bids Received (R''m)4002003801,105
Total Number of Successful Bids 1124
Results Page 3
Destination BondsR186R209R2037R2048
Outstanding Amounts212,95299,383115,879201,532
Lowest Yield Allotted (%) 9.33010.06010.17010.260
Weighted Average Yield (%) 9.33010.06010.17010.260
Nominal of Dest. Bond (R''m)1,9164854804,653
Highest Yield allocated in full 9.33010.06010.17010.260
Worst Bid Received9.3310.0610.1710.26
Source Bond207
Nominal of Source Bond Switched (R''m)2,0703304153,985
Total Number of Bids Received93311
Total Amt of Bids Received (R''m)2,0703304153,985
Total Number of Successful Bids 93311
Results Page 4
Destination BondsR186R209R2037R2048
Outstanding Amounts212,95299,383115,879201,532
Lowest Yield Allotted (%) 9.33010.06010.17010.260
Weighted Average Yield (%) 9.33010.06010.17010.260
Nominal of Dest. Bond (R''m)2,1188135951,033
Highest Yield Allocated in Full 9.33010.06010.17010.260
Worst Bid Received9.3310.0610.1710.26
Source Bond208
Nominal of Source Bond Switched (R''m)2,380575535920
Total Number of Bids Received14437
Total Amt of Bids Received (R''m)2,380575535920
Total Number of Successful Bids 14437
3 .) Government Switch Bond Auction Terms and Conditions2015/03/06 10:15:15
This auction will be conducted on a cash neutral basis and an All-in-Pricing
method is applicable. Bids should be submitted in minimum of R10 million and
multiples of R5 million thereafter. Bids should be submitted to the nearest
A facility is available to successful participants to top-up any odd-lots
of the destination bonds allotted to the nearest R1 million.
The facility is available until 12h00 and will settle T+2.
Please refer to the general terms and conditions of the switch facility
in the paragraph which states:
"The National Treasury reserves the right to switch nothing or less than the
announced amount if warranted by market conditions."
For any queries see National Treasury website (www.treasury.gov.za) or
contact, Mr J Krynauw or Ms Maseko on (012)315-5610.