Queensland Treasury Corporation
Demand for syndicated primary issuance of semi-government paper continued through at least the last week of February, driven by relative value in the sector, a lack of other high-grade supply and, most recently, investor flight to quality.
On 25 February, Queensland Treasury Corporation (QTC) (AA+/Aa1/AA) launched a new July 2034, Australian dollar denominated, syndicated, benchmark deal. Indicative price guidance for the forthcoming deal is 82.5-86.5 basis points area over 10-year futures contract, equivalent to 62.1-66.1 basis points area over Australian Commonwealth government bond. Pricing is expected on the day after launch, according to Citi, Deutsche Bank and Westpac Institutional Bank.
On 24 February, Queensland Treasury Corporation (QTC) (AA+/Aa1/AA) revealed plans for a new Australian dollar denominated, syndicated transaction, in either or both 14.5-year and 20-year tenor. Citi, Deutsche Bank and Westpac Institutional Bank have been mandated for the deal.
HIGH-GRADE ISSUERS YEARBOOK 2020
The ultimate guide to Australian and New Zealand government-sector borrowers.