TCorp bookbuild and consolidations grows new 2017 to A$2.4 billion

Although the new benchmark A$1 billion (US$1.1 billion) deal priced on February 28 by New South Wales Treasury Corporation (TCorp) (AAA/Aaa) has a very close maturity date to an existing Commonwealth-guaranteed line issued by the state treasury corporation, TCorp says the new issue was not primarily aimed at reducing its outstanding Commonwealth-guaranteed volume.