The Australian Office of Financial.....>

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

sell A$900mn of the 2.75% 21 November 2029 Bond, issue #TB154.

- The line was last sold on 05 December 2016 for A$1.0bn. The sale drew an

average yield of 2.5399%, a high yield of 2.5425% and was covered 2.5100x. There

were 25 bidders, 16 of which were successful and 9 were allocated in full.

Amount allotted at highest accepted yield as percentage of amount bid at that

yield was 6.7%.

- The line has A$18.1bn outstanding with a modified duration of 9.33 years.

- The line forms part of the deliverable basket for XMH9.

- The line's yield has operated in a ~35bp range since the end of November, with

market volatility driving appetite for safe haven bonds. The yield last sits

~11bp off the recent low at 2.2943%.

- The line looks a little rich against the 04/2029 & fair against the 05/2030

(on both ASW & Z-spread terms).

- Results due at 0000GMT/1100AEDT.