Treasury Corporation of Victoria
The development of long-dated liquidity is a massive agenda item for the Australian debt market, as sovereign issuance soars and yield at the front end stays anchored. Local and global market participants shared views on how duration has evolved internationally and what might be in store for Australia, at a November KangaNews Debt Capital Markets Summit 2020 webinar.
Treasury Corporation of Victoria (TCV) (AA/Aa1) launched a syndicated tap of its November 2025 line on 13 April. Indicative price guidance for the transaction is 50-53 basis points area over three-year futures contract, equivalent to 14.3-17.3 basis points area over Australian Commonwealth government bond.
Treasury Corporation of Victoria (TCV) (AA/Aa1) revealed on 15 March that it expects to raise approximately A$4 billion (US$3.1 billion) prior to the release of the Victorian state budget in mid-May 2021. This includes proceeding with its planned new long-dated syndication – provided market conditions are conducive.
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.
HIGH-GRADE ISSUERS YEARBOOK 2021
The ultimate guide to Australian and New Zealand government-sector borrowers.