The Australian Office of Financial.....>

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

sell A$1.0bn of the 2.50% 21 May 2030 Bond, issue #TB155.

- The line was last sold on 15 August 2018 for A$1.0bn. The sale drew an average

yield of 2.6348%, a high yield of 2.6375%, with 42.3% allotted at the high yield

and was covered 3.175x. There were 49 bidders, 23 of which were successful and

13 were allocated in full.

- The line has $4.5bn outstanding with a modified duration of 10.02 years, and

was issued for the first time in June of this year.

- The Bond does not form part of the futures basket for XMU8 or for XMZ8.

- The line's yield hit a high of 2.929% shortly after the initial issuance,

before easing to a low of 2.576%, last 2.595%.

- Since the initial issuance the line has operated in a tight range vs.

benchmark 10s, but still offers a degree of value despite some relative recent

outperformance, with the AOFM needing to bring this line upto size and decent

yield pickup against nearby shorter dated lines.

- Results due at 0200BST/1100AEST.