WATC prints A$1.53 billion March 2026 FRN

WATC launches benchmark March 2026 FRN

Western Australian Treasury Corporation (WATC) (AA+/Aa1) launched a new Australian dollar denominated, March 2026, syndicated, benchmark, floating-rate note (FRN) transaction on 30 November. The deal, which is expected to price on the day of launch, is being marketed at 10-13 basis points area over three-month bank bills.

WATC readying March 2026 FRN via syndication

On 27 November, Western Australian Treasury Corporation (WATC) (AA+/Aa1) mandated Commonwealth Bank of Australia, UBS and Westpac Institutional Bank as lead managers for a new March 2026, syndicated, floating-rate note (FRN) transaction.

WATC’s new-money requirement in 2020/21 borrowing programme within expectations

Western Australian Treasury Corporation (WATC) revealed a A$4.3 billion (US$3.1 billion) borrowing programme for the 2020/21 financial year on 9 October, following the release of the Western Australian state budget the previous day. It is at the upper end of the A$2.6-4.5 billion estimate provided at the state’s last budget update on 29 May.

WA keeps on its toes as lockdown end nears

Western Australia (WA) has had among Australia’s best outcomes when it comes to the health aspect of the COVID-19 crisis, allowing it to project a target date for the lifting of all remaining social restrictions state-wide. Ben Wyatt, WA’s Perth-based treasurer, discusses the state’s economic response and outlook.