The Australian Office of Financial.....>

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

sell A$800mn of the 2.75% 21 November 2029 Bond, issue #TB154.

- The line was last sold on 18 June 2018 for A$800mn. The sale drew an average

yield of 2.7059%, a high yield of 2.7075%, with 32.1% allotted at the high yield

and was covered 3.6187x. There were 35 bidders, 13 of which were successful and

6 were allocated in full.

- The line has $A11.5bln outstanding with a modified duration of 9.71 years.

- The line sits around 5bp richer than it did at the time of the most recent

auction.

- The line offers decent enough carry and rolls when compared to the nearby and

looks slightly cheap to fair on a forward yield, zero-coupon & z-spread basis.

- Results due at 0200BST/1100AEST.