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AUCTION PREVIEW: The Australian........>

AUSSIE BONDS: AUCTION PREVIEW: The Australian Office of Financial Management
(AOFM) will today sell A$2.0bn of the 5.50% 21 April 2023 Bond, issue #TB133.
- The line was last sold on May 8 2020 for A$1.5bn. The sale drew an average
yield of 0.2348%, a high yield of 0.2375% and was covered 6.8233x. There were 50
bidders, 14 of which were successful and 6 were allocated in full. Amount
allotted at highest yield as percentage of amount bid at that yield was 27.4%.
- The auction is effectively backstopped by the RBA's YCC program, with an
attractive coupon potentially helping matters further.
- The auction comes in the wake of a strong run of 3-Year supply.
- Results due at 0200BST/1100AEST.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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