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Full details of the results of the auction are outlined below: Issue Date November 22, 2011 Maturity Date November 22, 2031 Tenor 20 Years Total Amount Applied for $3,035,180,000.00 Total Amount Offered $1,500,000,000.00 Total Amount Allotted $1,500,000,000.00 Issue Yield 5.40% Coupon Rate 6.00% Cut-Off Price $107.28 Range of Successful Bids $120.00 - $107.28 Amount Allotted to Non-Competitive Applications $15,792,000.00

Full details of the results of the auction are outlined below: Issue Date November 22, 2011 Maturity Date November 22, 2031 Tenor 20 Years Total Amount Applied for $3,035,180,000.00 Total Amount Offered $1,500,000,000.00 Total Amount Allotted $1,500,000,000.00 Issue Yield 5.40% Coupon Rate 6.00% Cut-Off Price $107.28 Range of Successful Bids $120.00 - $107.28 Amount Allotted to Non-Competitive Applications $15,792,000.00

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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1. Yield to maturity based on the price of $1072.80

CENTRAL BANK OF n TRINIDAD & TOBAGO RESULTS OF THE AUCTION OF THE GOVERNMENT OF TRINIDAD AND TOBAGO TT$1.0 - $1.5 BILLION 6.00% FIXED RATE BOND DUE 2031 The auction of the Government of Trinidad and Tobago $1.0- $1.5 billion 20-year 6.00% bond to be issued on November 22, 2011 has been oversubscribed, with the total bids received amounting to $3,035.180 million. Due to this overwhelming response, the bond was upsized to accept a total of $1.5 billion as provided for in the Information Memorandum. The bond was allotted at a premium, with a clearing price of $107.28 per $100.00 face value, offering investors a yield to maturity of 5.40 per cent. Bids at this price were pro-rated to allocate approximately 82.01 per cent of the amount applied for, while competitive bids submitted at a price lower than this were rejected, Successful competitive bidders, as well as non-competitive bidders, will be required to pay the clearing price for the bond. Full details of the results of the auction are outlined below: Issue Date November 22, 2011 Maturity Dater November 22, 2031 Tenor 20 Years Total Amount Applied for $3,035,180,000.00 Total Amount Offered $1,500,000,000.00 Total Amount Allotted $1,500,000,000.00 Issue Yield 5.40% Coupon Rate 6.00% Cut-Off Price $107.28 Range of Successful Bids $120.00 - $107.28 Amount Allotted to Non-Competitive Applications $15,792,000.00
Transcribed Image Text:CENTRAL BANK OF n TRINIDAD & TOBAGO RESULTS OF THE AUCTION OF THE GOVERNMENT OF TRINIDAD AND TOBAGO TT$1.0 - $1.5 BILLION 6.00% FIXED RATE BOND DUE 2031 The auction of the Government of Trinidad and Tobago $1.0- $1.5 billion 20-year 6.00% bond to be issued on November 22, 2011 has been oversubscribed, with the total bids received amounting to $3,035.180 million. Due to this overwhelming response, the bond was upsized to accept a total of $1.5 billion as provided for in the Information Memorandum. The bond was allotted at a premium, with a clearing price of $107.28 per $100.00 face value, offering investors a yield to maturity of 5.40 per cent. Bids at this price were pro-rated to allocate approximately 82.01 per cent of the amount applied for, while competitive bids submitted at a price lower than this were rejected, Successful competitive bidders, as well as non-competitive bidders, will be required to pay the clearing price for the bond. Full details of the results of the auction are outlined below: Issue Date November 22, 2011 Maturity Dater November 22, 2031 Tenor 20 Years Total Amount Applied for $3,035,180,000.00 Total Amount Offered $1,500,000,000.00 Total Amount Allotted $1,500,000,000.00 Issue Yield 5.40% Coupon Rate 6.00% Cut-Off Price $107.28 Range of Successful Bids $120.00 - $107.28 Amount Allotted to Non-Competitive Applications $15,792,000.00
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