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.
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.
Treasury Corporation Victoria (TCV) (AAA/Aaa) launched syndicated increases of its October 2028 and December 2032 bond lines on 22 January. Indicative price guidance is in the range of 39-41 basis points and 64-67 basis points over EFP respectively.
Pricing is expected on the day after launch, according to lead managers Bank of America Merrill Lynch, Deutsche Bank, National Australia Bank and UBS.