The Australian Office of Financial.....>

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

sell A$300mn of the 3.25% 21 June 2039 Bond, issue #TB147.

- The line was last sold on 25 February 2019 for A$400mn. The sale drew an

average yield of 2.5125%, at a high yield of 2.5150% and was covered 2.663x.

- There were 47 bidders, 15 of which were successful and 8 were allocated in

full. Amount allotted at highest yield as percentage of amount bid at that yield

was 61.0%.

- The line sits around the middle of its recent z-spread & ASW ranges.

- Some analysts have suggested that the tap of the line (and the AOFM's choice

to settle the issuance on a T+1 basis) point to the AOFM targeting duration,

perhaps with an eye on month-end extensions, with the notable number of April

bonds dropping below various maturity bands in the relevant bond indices.

- Results due at 0200BST/1100AEST.