Treasury Corporation of Victoria
In January 2018, KangaNews invited representatives of Australia’s biggest government-sector funders to a roundtable discussion in Sydney. In the first part of the discussion, the issuers shared insights into the global funding environment, global investor demand and their own ambitions with respect to curve duration.
In March, for the first time, KangaNews hosted its Sustainable Debt Summit as a full-day event, reflecting the exponential growth in interest in environmental, social and governance (ESG) integration in the fixed-income universe. The sector is now much broader than green-bond issuance, as reflected in discussions at the KangaNews event.
On 1 May, following the release of the Victorian state budget, Treasury Corporation of Victoria revealed a funding requirement for the financial year ending 30 June 2019 of A$2.1 billion (US$1.6 billion). The requirement is lower than previously forecast, treasury forecasts from the May 2017 budget having indicated an expected funding need of A$4.6 billion for 2018/19.
On 2 March, the Victorian government (AAA/Aaa) announced the sale of the Victorian share of the Snowy Hydro Scheme (Snowy Hydro) to the Australian Commonwealth government for A$2 billion (US$1.6 billion). The Victorian government’s financing authority, Treasury Corporation of Victoria (TCV), disclosed that with the sale it has now completed its funding requirement for the 2017/18 financial year.
Profiles of all the capital-markets-relevant issuers in the Australian and New Zealand government sectors, including issuer-specific interviews with the most active borrowers and data from the two sovereign debt markets.
The final part of KangaNews’s exclusive Australasian government-sector issuers roundtable covers the specifics of funding plans – including the outlook for foreign-currency, floating-rate, and green and social securities.