The australian office of financial management opened a new benchmark line last Tuesday with a swiftly executed A$4.25bn (US$3.3bn) sale of 2.75% June 21 2035 Treasury bonds. ANZ, CBA, Deutsche Bank and UBS were joint lead managers for the syndicated issue, which priced at 98.977 for a yield of 2.865%, 48bp over the implied bid yield for the primary 10-year Treasury bond futures contract. There will be no further issuance of the bond before June 2015 at the earliest.
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