Australian Office of Financial Management (AOFM) broke its longest drought of syndicated issuance since it began this method in 2009 with its 19 February transaction. The deal received robust support from offshore and real-money investors.
On 20 February, Northern Territory Treasury Corporation (NTTC) (Aa3) launched a new, domestic, benchmark bond maturing in April 2031. The forthcoming deal has indicative price guidance of 89-93 basis points over the 10-year futures contract, equal to 85.4-89.4 basis points area over Australian Commonwealth government bond. Pricing is expected on the day after launch, according to lead managers ANZ, National Australia Bank and UBS.