- High-yield 4.024%
- WI 4.019%
- Tail of 0.5 basis points versus 6-month average of 0.8%
- Bid to cover 2.56X versus 6-month average of 2.51X
- Dealers 15.15% vs 6-month average of 14.5%
- Directs 18.74% versus six month average of 18.8%
- Indirects 66.11% versus six with average of 66.7
Auction grade: Solid C
Highlights.
Most of the details in relation to the 6-month average were close enough to those levels. Although there was a 0.5 bp tail it was still lower than the 6-month average of 0.8 bps. The Bid to cover was a touch higher. Dealers were saddled with a little more than average. Direct demand was a touch lower, as was the Indirect demand.