The Government aims to raise up to $2 billion through a syndicated bond issue which was launched today. In a statement, the Treasury said the new 1.50 per cent coupon, May 2031 nominal bond issue aimed to raise between $1b and $2b. The Treasury also announced the cancellation of the April 2037 bond tender, which was due to been held on Thursday, due to the close proximity of the new, far larger, 2031 issue. The government's syndicated bond issues - where a big sums are raised in one hit - typically only happen once a year. They dwarf the standard weekly bond tenders, which usually raise $50-$250m. Market participants ... (full story)