• High yield 3.488%
  • tail +0.2 basis points. The 6 month averages -0.6 basis points
  • bid to cover 2.6X vs. six-month average of 2.55X
  • dealers 12.4% vs. six-month average of 13.0%
  • directs 20.2% vs. six-month average of 18.7% six-month average
  • indirects 67.4% vs. six-month average of 68.3%

Auction grade: C

  • Tail: C
  • Bid to cover: C+
  • Dealers: B-
  • Directs: C+
  • Indirects: C-