Western Australian Treasury Corporation
Western Australia (WA)’s economy is continuing an upward trajectory, with increased mining revenues and a favourable reallocation of goods and services tax (GST) among the main drivers of fiscal improvement. The state is now forecasting a fiscal surplus in 2019/20, one year earlier than expected.
Western Australian Treasury Corporation (WATC) revealed a A$7.7 billion (US$5.3 billion) borrowing programme for the 2019/20 financial year on 13 May, following the release of the Western Australia (WA) state budget on 9 May. The new-money requirement is A$1.1 billion, down from the estimated A$1.5 billion at the last update on 31 March.
On 18 February, Western Australian Treasury Corporation (WATC) (AA+/Aa2) launched a new, July 2029 benchmark transaction by syndication. The forthcoming deal is being marketed at 62.5-65.5 basis points area over the 10-year futures contract, equal to 62.5-65.5 basis points area over Australian Commonwealth government bond.
Exclusive information from the KangaNews deal database covering capital-markets transactions by high-grade issuers profiled in the KangaNews High-Grade Yearbook 2019.
Key data and information on 15 high-grade issuers active in the Australasian debt markets, including funding strategy information, debt data and issuer-specific perspectives.