New South Wales Treasury Corporation
The scale of New South Wales (NSW)’s infrastructure task and its well-defined links with sustainable outcomes – in both the environmental and social arenas – enabled NSW Treasury Corporation (TCorp) to debut in the green-bond market with a blockbuster deal. TCorp issued A$1.8 billion (US$1.3 billion) of 10-year green bonds on 9 November.
On 24 July, New South Wales Treasury Corporation (TCorp) (AAA/Aa1) launched a syndicated increase to its October 2023 floating-rate note. The forthcoming deal, which is expected to price on the day of launch, is 20-22 basis points area over three-month bank bills. ANZ and Commonwealth Bank of Australia are leading.
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.
COVID-19 has spurred record volume of social-bond issuance and some sustainable-finance experts believe the crisis will be the catalyst for much more widespread adoption of the instrument. Despite the best efforts of advocates, however, the hurdles to habitual use of social bonds, especially in the private sector, remain high.
In June, Westpac Institutional Bank and KangaNews brought together the biggest issuers in the Australian government sector to discuss a rollercoaster ride in markets since the end of March. The issuers describe a relatively straight-line improvement since the thrills and spills of the March-April period, with returning investors supporting increasing issuance volume and liquidity at extended tenor.
HIGH-GRADE ISSUERS YEARBOOK 2020
The ultimate guide to Australian and New Zealand government-sector borrowers.