The Australian Office of Financial.....>

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

sell A$500mln of the 2.75% 21 November 2029 Bond, issue #TB154.

- The line was last sold on 4 May 2018 for A$600mln, which represented the first

tap after syndication. The sale drew an average yield of 2.8181%, a high yield

of 2.8200%, with 24.0% allotted at the high yield and was covered 3.5733 times.

- The line has $A10.2bln outstanding with a modified duration of 9.64 years.

- In outright yield terms the bond sits ~1.0bp cheaper than it did at the time

of the prior auction, some 14bp back from last week's high following the risk

off flow experienced in recent sessions.

- After a fairly rough start the Bond has seemingly adjusted and looks

relatively fair in terms of z-spread & ASW terms.

- ANZ expect 2029 issuance to tick higher, which they believe will cheapen the

sector against the surrounding lines.

- Results due at 0200BST/1100AEST