The Australian Office of Financial.....>

AUSSIE BONDS: The Australian Office of Financial Management (AOFM) will today

sell A$500mln of the 2.25% 21 November 2022 Bonds, issue #TB153.

- The line was last sold on 13 April 2018 for A$1.0bln. The sale drew an average

yield of 2.3632%, a high yield of 2.3650% with 51.3% allotted at the high yield

& was covered 4.3780x. There were 47 bidders, 10 of which were successful & 2

were allocated in full.

- The line has $A10.0bln outstanding with a modified duration of 4.29 years.

- In outright yield terms the yield sits 10bp or so higher than it did at the

time of the prior auction.

- The line is a relatively heavily issued Bond, but doesn't form part of the

basket for the 3-Year Bond future quite yet. This has led to the line looking

attractive on both ASW and carry & roll terms, as well as on a forward yield

basis.

- Results due at 0200BST/1100AEST.