New South Wales Treasury Corporation
New South Wales Treasury Corporation (TCorp) has managed a growing funding task through the various Australian and international crises of the last year. Fiona Trigona, head of funding and balance sheet at TCorp in Sydney, discusses the tools that will enable the state treasury corporation to continue managing a higher call on debt capital markets.
Key data and information on 15 high-grade lenders active in Australia and New Zealand, including programme information, funding strategy, debt data and issuer insights.
At one stage in 2020 it seemed Australia’s government-sector borrowers might end up with funding requirements larger than the market’s ability to support them. By the time the sector’s biggest issuers came together at a KangaNews roundtable in early February 2021, however, tasks had mainly come under control and issuance was well ahead of the required run rate.
The Australian sovereign and semi-government bond market faced game-changing challenges in 2020. Greatly increased issuance requirements seem baked in for the foreseeable future, but those most responsible for distributing and trading the bonds appear relatively confident that – despite resumed volatility in late February – the market is set up well for the pandemic end game.
On 25 February, New South Wales Treasury Corporation (TCorp) revised down its total funding task for financial year 2020/21 by A$6.25 billion (US$5 billion) to A$29.55 billion, following the release of the New South Wales (NSW) state government’s half-yearly review.
HIGH-GRADE ISSUERS YEARBOOK 2021
The ultimate guide to Australian and New Zealand government-sector borrowers.