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) issued its largest ever floating-rate note (FRN) deal in a A$1.1 billion (US$745.9 million) 4.5-year transaction that priced on 14 August. WATC talks to KangaNews about the timing of the deal and the wider context of its funding programme.
On 13 August, Western Australian Treasury Corporation (WATC) (AA+/Aa1) launched a new February 2024, Australian dollar denominated syndicated benchmark floating-rate note (FRN) deal. Indicative price guidance for the forthcoming transaction, which is expected to price the day after launch, is 21-24 basis points area over three-month bank bills.
Western Australian Treasury Corporation (WATC) (AA+/Aa1) revealed plans for a new February 2024, Australian dollar denominated syndicated floating-rate note (FRN) deal on 12 August. The transaction is expected to launch in the near future, according to joint lead managers Commonwealth Bank of Australia and National Australia Bank.
Western Australia (WA) is emerging from a challenging economic period with a much improved state-government balance sheet and signs of a renaissance in business investment and population growth. Ben Wyatt, WA’s Perth-based state treasurer, discusses the economic trajectory and funding options.