The Australian Office of Financial.....>

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

sell A$900mn of the 2.50% 21 May 2030 Bond, issue #TB155.

- The line was last sold on 20 February for A$900mn. The sale drew an average

yield of 2.1472%, at a high yield of 2.1500% and was covered 3.3944x. There were

39 bidders, 24 of which were successful and 14 were allocated in full. Amount

allotted at highest yield as percentage of amount bid at that yield was 16.5%.

- The line has A$13.8bn outstanding with a modified duration of 9.71 years.

- The line does not form part of the deliverable basket for XMH9, but will roll

into the basket of XMM9.

- The line's yield has operated in a ~20bp range since the most recent auction,

with the latest round of soft domestic data pressuring yields to cycle lows.

Yield last ~3bp off the recent low at 2.1107%.

- The line has moved back from recent rich levels in Z-spread & ASW terms, but

still looks a little rich on a relative basis.

- Results due at 0000GMT/1100AEDT.