The Australian government plans to sell between A$4 billion and A$5 billion of new bonds in most weeks ahead of the official Budget in October, when full details of the likely issuance for 2020/21 will be released.
The Australian Office of Financial Management (AOFM), which manages the government's debt, on Friday said it had sold a total of A$128.2 billion ($88.75 billion) of bonds in the 2019/20 fiscal year.
New bond lines maturing in 2025, 2026, 2031 and 2032 will be established by syndication in the year to June 2021, it added. A new 30-year benchmark bond maturing in June 2051 will, subject to market conditions, be established by syndication before Sept. 30.
Two tenders of A$100-200 million each for the issue of Treasury Indexed Bonds will be held in most months.
Sales of shorter-dated Treasury notes would vary according to cash management requirements, with A$2-4 billion likely in most weeks.
The government is expected to raise a record amount of cash this fiscal year to pay for massive fiscal stimulus as the country's first recession in three decades slashes tax receipts.
($1 = 1.4445 Australian dollars)
(Reporting by Wayne Cole; Editing by Shri Navaratnam)
