Australia will sell a new 2025 bond next week and slow the pace of gross debt offerings in the fiscal year starting July 1 as the government seeks to rein in budget deficits.
Notes maturing April 21, 2025, will be offered through syndication, the Australian Office of Financial Management said today in an e-mailed statement. The funding arm said it expects to sell about A$50 billion ($49.5 billion) in the coming fiscal year. That compares with the A$53.6 billion of sales indicated for the 12 months ending June 30 in the federal budget presented by Treasurer Wayne Swan in Canberra yesterday.
The amount of outstanding government bonds maturing in a year or more will rise to A$260 billion by June 30, 2014, from an estimated A$233 billion a year earlier, the budget shows.
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