The Australian Office of Financial Management (AOFM) sold $700 million worth of Treasury Bonds.

The bonds carry a coupon rate of 4.75 percent and mature on June 15, 2016. These were sold at an weighted average issue yield of 4.6266 percent. The coverage ratio or the ratio of bids received to the value of bonds offered stood at 3.70.

A total of 39 bids were accepted for the issue worth a total of $2.593 billion. The range from yields of the bids was from 4.620 percent to 4.635 percent.

Eighteen of the total bids were successful. Ten of these successes were allocated in full.

The bonds will be settled on Wednesday next week.

The AOFM reports a total Commonwealth Government securities of $154,593 million. The securities on issue today consists of $127,792 million worth of treasury bonds, $11,079 million of treasury indexed bonds, $15,700 million of treasury notes, and $22 million of other securities.

The regulator of Australian Government debt plans a tender for the issue of $500 million of the April 2020 Bond line on September 8 and a tender for the issue of $1,250 million of a new October 2014 Bond line on September 10. The next tender for the issue of Treasury Indexed Bonds is temporarily set for September 14.