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.
Australian Capital Territory (ACT) priced its largest-ever bond deal on 13 August: a A$1 billion (US$679.4 million) transaction maturing in May 2025. Lead managers say the relative-value pick up of ACT to other triple-A semi-government borrowers and ongoing demand from bank balance sheets supported the book.
On 15 August, New Zealand Local Government Funding Agency (LGFA) (AA+/AA+) revealed plans for a potential April 2029 transaction to institutional and New Zealand retail investors by syndication. Full details of the transaction are expected to be released in the week beginning 19 August and an investor call will take place on 20 August.