Semi-governments sort out funding strategies 01 March 2010 5:26PM Philip Bayley It was certainly a week for high quality bond issuance, with AOFM, QTC, TCorp and TCV all active. The Australian Office of Financial Management sold A$300 million of August 2015, Treasury Indexed Bonds, at a real yield of 2.64 per cent. The issue was oversubscribed 4.2 times.Queensland Treasury Corp made its second non-Commonwealth guaranteed benchmark issue for the year, selling A$2.5 billion of 10-year bonds at 16 basis points over swap and 68.15 bps over Commonwealth government bonds. TCorp announced its new issuance strategy that will enable it to transition back to non-Commonwealth guaranteed issuance with the establishment of two replacement lines and one new line. TCorp commenced with the sale of A$750 million of August 2013 bonds, which will supersede the existing Commonwealth guaranteed May 2013 line. Over the next few weeks, TCorp will launch a new May 2020 line to replace the guaranteed June 2020 line and it will also launch a new April 2016 line.Finally, Treasury Corp of Victoria sold A$500 million of September 2011 bonds on a reverse enquiry. The bonds were priced at swap less 15 bps and CGS plus 49.75 bps.