- High yield 4.072%
- WI level 4.101%
- Tail -2.9 bps
- Bid to cover 2.64X vs 2.53X
- Directs (domestic demand) 15.4% vs 6 month avg of 17.6%
- Indirects (international demand) 75.4% vs 6 month avg of 70.3%
- Dealers 9.3% vs 6 month average of 12.1%
Auction grade: A-
Strong international demand drove the buying in the auction. The only negative was the level of domestic demand but they may have been outbid by the international demand for the auction