WI at 0.452%

  • High yield 0.446%
  • WI level 0.452%
  • Tail 0.6 basis points
  • Bid to cover 2.45x vs. six-month average of 2.54 times
  • Dealers 19.26% vs. 24.0%
  • directs 16.8% vs. 13.3%
  • indirects 63.9% vs. 62.7%

A good auction. The high yield was 0.6 basis points below the WI level. Good demand. The bid to cover was a little light vs. the six-month average. However the dealers only had to take 19.26% vs. 24% average