AOFM gets strong coverage for April 2024 bond; yield 0.2818%

By Sophia Rodrigues

The AOFM has sold A$2.0 billion of 2.75% April 2024 government bond at a weighted average yield of 0.2818%. The coverage ratio was 5.3775, falling short of the record at the previous auction of this bond when it was 6.5375. The lowest yield today was 0.2800% and the highest 0.2825%.

There were 50 bids in total, and only 13 were successful, and among them 5 got 100% allotment.

With this issue, this bond line has now increased A$30.9 billion. The last time this bond was issued was on January 15 for A$400 million when the weighted average issue yield was 0.8481%.

The bond was first issued in June 2012 for A$1.0 billion at a weighted average yield of 3.2816%.