The AOFM notes that "for '19-20 Tsy....>

AUSSIE BONDS: The AOFM notes that "for '19-20 Tsy Bond issuance was A$128.2bn &

Tsy Indexed Bond issuance was A$1.65bn. The following issuance guidance will

apply until the 2020-21 Budget is handed down in October. Tsy Bond issuance via

tender will be at a rate of around A$4-5bn in most weeks. New Tsy Bond lines

maturing in '25, '26, '31 & '32 will be established by syndication in '20-21. In

addition, a new 30-year benchmark Tsy Bond line maturing in June '51 will,

subject to market conditions, be established by syndication before 30 Sep '21.

The AOFM will give notice of at least 10 days ahead of the launch of this new

line. Syndicated taps of existing long-dated Tsy Bond lines will remain under

consideration consistent with past practice, however, the launch of the new '51

line will be the priority. There are no plans to resume regular Tsy Bond buyback

tenders during '20-21. 2 tenders of A$100-200mn each for the issue of Tsy

Indexed Bonds will be held in most months. Issuance choices will continue to

focus on supporting the functionality of the market. Tsy Note issuance will vary

according to AOFM cash m'ment requirements. In most weeks, tenders of A$2-4bn

can be expected. Maturities of up to 12 months will continue to be offered."