SYDNEY: The Australian government sold A$14 billion ($10.64 billion) of a new 2032 bond through syndication on Tuesday, an offer that drew a sizable A$48 billion in bids.

The Australian Office of Financial Management (AOFM), which manages the government's debt, said the 1.75%, Nov. 21, 2032 Treasury Bond was priced at a yield to maturity of 1.9%.

Commonwealth Bank of Australia; Deutsche Bank; UBS AG, Australia Branch; and Westpac Banking Corporation acted as joint-lead managers for the issue.