The AOFM will today sell A$900mn of....>

AUSSIE BONDS: The AOFM will today sell A$900mn of the 2.50% 21 May 2030 Bond,

issue #TB155. The line was last sold on 20 March 2019 for A$900mn. The sale drew

an average yield of 1.9459%, at a high yield of 1.9475% & was covered 3.0278x.

There were 33 bidders, 18 of which were successful & 8 were allocated in full.

Amount allotted at highest yield as % of amount bid at that yield was 54.9%. The

line has A$15.6bn outstanding, with a modified duration of 9.69 years. The line

forms part of the XMM9 deliverable basket.

- Frequent tendering of the line should continue, with little deviation noted in

the issuance plans that were released in the wake of the Federal Budget, which

will help bring the line up in terms of amount in circulation.

- The line continues to look rich vs. the remainder of the XMM9 basket in both

ASW and Z-spread terms.

- Results due at 0100BST/1100AEDT.