WI at 1.867% at auction time

  • High yield of 1.861% versus WI at 1.867%
  • Bid to cover 2.62x versus 2.48x last.
  • Dealers take 30%
  • Directs accepted 13.4% versus 20.0% last
  • Indirects accepted 56.6% versus 37.9% last

Overall a very good auction.

  • The high yield was lower than the WI by 0.6 bps
  • The bid to cover at 2.62x was higher than the 6 month average of 2.52x
  • Dealers took less at 30% vs six-month average of 39.1%. So the auction was distributed