The Australian Office of Financial.....>

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

sell A$100mn of the 3.0% 20 Sep 2025 I/L Bond, issue #CAIN407.

- The line was last sold on 11 April 2017 for A$150mn. The sale drew an average

yield of 0.5408%, at a high yield of 0.5450% and was covered 3.000x. There were

39 bidders, 11 of which were successful and 11 were allocated in full. Amount

allotted at highest yield as percentage of amount bid at that yield was 100%.

- 5-Year AU break-evens have retraced from the YtD high printed in late January,

last dealing at 1.371%, ~5.5bp or so off of the YtD low. Westpac expect "BEIs to

remain priced for a sanguine medium-term inflation outlook, especially given

oil's impact on dampening fears and limiting risk in the sector. That was

confirmed by the benign RBA forecasts in the SoMP, and is in line with global

market relativities."

- The line has A$7.193bn outstanding with a modified duration of 5.95 years.

- Results due at 0000GMT/1100AEDT.