Launch of a tap of the August 2040 TIB

Launch of a tap of the August 2040 TIB

The AOFM announces the issue by syndication of around $1 billion face value of the 1.25% 21 August 2040 Treasury Indexed Bond (TIB).

Initial price guidance for the issue is a spread of -232 to -229 basis points to the implied bid yield for the primary 10-year Treasury Bond futures contract.

If an investor submits an offer of the September 2025 TIB that is not fully allocated, that investor will be able to adjust the volume of any order for the August 2040 TIB accordingly, up until books close.

The issue is expected to be priced on Tuesday, 26 November 2024 and settle on Tuesday, 3 December 2024. 

Barrenjoey Markets Pty Limited*; UBS AG, Australia Branch; and Westpac Banking Corporation will act as Joint-Lead Managers for the issue.

There will be no further TIB issuance for 2024.

Repurchase of the September 2025 TIB

The AOFM is prepared to repurchase up to $2 billion face value of the 3.00% 20 September 2025 TIB from holders. The AOFM will not undertake any further repurchases of this line.

Initial price guidance for the repurchase is a real yield of 2.08 per cent to 2.11 per cent.

Holders of this line are invited to submit offers via the Joint Lead Managers (there is no requirement to participate in the issue).

The repurchase will settle on Tuesday, 3 December 2024.

*Barclays acting as global authorised distributor

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