Forthcoming Transactions
Issuance Program Update
The AOFM is providing this advice on planned issuance as an update to its previous advice of 12 March 2020.
The AOFM will not be offering guidance in the form of a planned gross issuance program ahead of the next official Budget update. Issuance guidance will take the form of an expected weekly rate for Treasury Bond tenders. Weekly issuance decisions will continue to take market conditions into account.
Treasury Bond issuance via tender will be around $5 billion in most weeks. This will typically be spread across three tenders. New maturities between 3-5 years and 10-12 years are likely to be established by syndication before 30 June 2020. Syndicated taps into existing lines will also be considered. It remains the AOFM’s intention to establish a new 30 year benchmark bond in the 2020-21 fiscal year if market conditions are suitable.
No Treasury Indexed Bond issuance is planned before mid-May. Issuance will resume when market conditions are suitable.
Treasury Note issuance will continue at an elevated rate and the maturity profile of Treasury Notes will be extended to 12 months.
The Australian Office of Financial Management (AOFM) plans to undertake the following transactions.
Treasury Bonds
Three Treasury Bond tenders are planned to be held next week.
| Series Offered | 2.25% 21 November 2022 | 1.50% 21 June 2031 | 5.50% 21 April 2023 |
|---|---|---|---|
| Offered to Public ($million) | 2,000 | 1,000 | 2,000 |
| ISIN | AU000XCLWAW9 | AU0000047003 | AU3TB0000101 |
| Tender Date | Monday, 6 April 2020 | Tuesday, 7 April 2020 | Wednesday, 8 April 2020 |
| Time to Submit Bids | 10:45 - 11:00 AM AEST | 10:45 - 11:00 AM AEST | 10:45 - 11:00 AM AEST |
| Settlement Date | Wednesday, 8 April 2020 | Thursday, 9 April 2020 | Tuesday, 14 April 2020 |
Treasury Notes
A Treasury Note tender is planned to be held next week.
| Maturity Date | 24 July 2020 | 25 September 2020 | 11 December 2020 | 26 March 2021 |
|---|---|---|---|---|
| Offered to Public ($million) | 1,250 | 1,500 | 750 | 500 |
| ISIN | AU2CLT240707 | AU2CLT250904 | AU2CLT111205 | AU2CLT260317 |
| Tender Date | Thursday, 9 April 2020 | |||
| Time to Submit Bids | 10:15 - 10:30 AM AEST | |||
| Settlement Date | Tuesday, 14 April 2020 | |||
Treasury Indexed Bonds
No further issuance of Treasury Indexed Bonds will be considered until mid May 2020.
Other Information
Results of transactions will be made available in the Data Hub and via AOFM Updates.
Bids and offers at AOFM tenders may be lodged by Registered Bidders via Yieldbroker DEBTS, and must comply with the relevant Information Memorandum for Treasury Bonds, Treasury Indexed Bonds or Treasury Notes.
All transactions are to be settled in the Austraclear System.
