SYDNEY: The Australian government plans to sell a new November 2032 bond line through syndication as part of its 2020/21 borrowing plans, the Office of Financial Management (AOFM) said on Friday.

The AOFM said its total issuance for the fiscal year to end June was expected to be around A$230 billion ($180 billion), of which A$153.5 billion had already been completed.

Issuance via tender would be at a rate of A$2 billion to A$3 billion in most weeks. No other new bond line would be sold this fiscal year.

Treasury Indexed Bond issuance of A$2 billion to A$2.5 billion was expected for 2020/21, of which A$1.25 billion had already been undertaken.

Two tenders of A$100 million to A$200 million each would be held in most months.