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1.
Friday, 15 January 2021

AOFM gives issuance programme update

On 15 January, Australian Office of Financial Management (AOFM) gave an update on its 2020/21 issuance programme. Its total requirement of A$230 billion (US$178.7 billion) and amount issued to date of A$153.5 billion are unchanged from its last update on 18 December.

2.
Friday, 18 December 2020

AOFM revises 2020/21 borrowing programme down by A$10 billion

On 18 December, Australian Office of Financial Management (AOFM) (AAA/Aaa/AAA) revised down its planned issuance for the 2020/21 financial year to A$230 billion (US$175.4 billion) from A$240 billion, following the release of the federal government’s mid-year economic and fiscal outlook one day earlier.

4.
Monday, 16 November 2020

AOFM launches May 2041 syndicated tap

On 16 November, Australian Office of Financial Management (AOFM) (AAA/Aaa/AAA) launched a syndicated tap, of up to A$6 billion (US$4.4 billion), of its May 2041 line. Indicative price guidance for the forthcoming deal, which is expected to price on the day after launch, is 75.5-78.5 basis points area over 10-year futures contract. National Australia Bank, TD Securities, UBS and Westpac Institutional Bank are leading.

5.
Friday, 13 November 2020

AOFM announces syndicate for May 2041 tap

Following the announcement of its May 2041 syndicated tap in the week beginning 16 November earlier in the day on 13 November, Australian Office of Financial Management (AOFM) revealed National Australia Bank, TD Securities, UBS and Westpac Institutional Bank will be joint lead mangers for the transaction.

6.
Friday, 13 November 2020

AOFM to tap its May 2041 line via syndication

On 13 November, Australian Office of Financial Management (AOFM) (AAA/Aaa/AAA) revealed plans for a syndicated tap of its May 2041 line in the week beginning 16 November, with a maximum of A$6 billion (US$4.3 billion) to be issued. Lead managers for the transaction will be announced later in the day.

7.
Thursday, 29 October 2020
Oct/Nov 2020

State of rates: Australia's high-grade market in depth

On 22 October, KangaNews hosted the latest in the KangaNews Debt Capital Markets Summit 2020 webinar series. The session had a rates-market flavour, including a discussion between some of Australia’s leading market participants about how massively increased sovereign issuance, central-bank intervention and a raft of new dynamics will shape their sector.

8.
Wednesday, 28 October 2020

Hopes high for immediate liquidity in new five-year ACGB future

The launch by the Australian Securities Exchange (ASX) of a new five-year Australian Commonwealth government bond (ACGB) futures contract is well timed to meet the needs of an evolving market and should therefore attract liquidity from listing, market participants believe.

9.
Friday, 09 October 2020
Oct/Nov 2020 Nonbank supplement

The support band: AOFM’s SFSF and FSPV

The Australian Office of Financial Management (AOFM) has intervened in the Australian securitisation market since March through its structured finance support fund (SFSF), which facilitated significant securitisation deal flow in the mid-part of 2020. The AOFM is further enhancing its market support with the introduction of its forbearance special-purpose vehicle (FSPV).

10.
Wednesday, 07 October 2020

No surprise in AOFM’s 2020/21 task but RBA help may be needed

On 7 October, following the announcement of the Australian federal government budget, the Australian Office of Financial Management (AOFM) revealed an expected funding requirement of around A$240 billion (US$170.5 billion) for the 2020/21 financial year. The announcement was no surprise to market watchers, but some analysts expect the Reserve Bank of Australia (RBA) may need to step up its market intervention.