The Australian government this week sold a record A$25 billion $17.7 billion bond, continuing this year's stretch of large issuances, in a transaction that appeared to raise few eyebrows despite its large size.
The Australian Office of Financial Management, which manages government debt, said the syndicated issue with a 0.5% coupon and maturity in September 2026 received total bids worth as much as A$66.1 billion at the final clearing price, signaling it might have raised more funds, had it desired so.
Yield-to-maturity was set at 0.47%. Settlement will occur on September 29.
Australia and New Zealand Banking Group, BofA Securities, Deutsche Bank and...