On 18 February, Australian Office of Financial Management (AOFM) (AAA/Aaa/AAA) launched a syndicated tap of its May 2041 bond line. The issuer states that volume will be ‘modest’. Indicative price guidance for the forthcoming transaction, which is expected to price on the day after launch, is 49-51 basis points area over 10-year futures contract. Commonwealth Bank of Australia, J.P. Morgan and UBS are leading.