Issuance Program
Updated 12 May 2010
It should be noted that the issuance program is indicative only and the AOFM reserves the right to amend details for any reason.
Treasury Bonds
Treasury Bond issuance in 2010-11 (that is 1 July 2010 to 30 June 2011) is expected to be around $56 billion. After accounting for maturities of $18.8 billion this represents a net increase of $37 billion in the face value amount of Treasury Bonds on issue.
In 2010-11 tenders will continue to be held on Wednesdays and Fridays, with details of the bond lines and amounts to be offered in a particular week announced at noon on the Friday of the preceding week. The face value amount offered at each tender will be in the range $500 million to $1.2 billion.
Issuance in 2010-11 will include new Treasury Bond lines maturing in 2014, 2016, 2023 and 2025.
Treasury Notes
The volume of Treasury Notes on issue varies depending on the flows of Australian Government receipts and expenditures. It is planned to keep at least $10 billion of Treasury Notes on issue at all times so as to maintain a liquid market.
In 2010-11 the average volume of Treasury Notes on issue is expected to be higher than in 2009-10. Tenders will be held on Thursdays, with details of the tenors and amounts to be offered announced at noon on the Friday of the preceding week.
Treasury Indexed Bonds
Issuance of Treasury Indexed Bonds in 2010-11 is expected to be around $4 billion. This is planned to include a new line maturing in 2030. The initial issue of the new indexed bond line is likely to be via a syndicated offering.
Treasury Indexed Bonds will also be issued by tender each month, except for December 2010 and the month of the syndicated issue. The tenders will be held on Tuesdays with details of the bond lines and amounts to be offered announced at noon on the Friday of the preceding week.