WATC launches February 2024 domestic syndicated benchmark FRN deal

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.