WATC to increase its 2026 benchmark via syndication

Western Australian Treasury Corporation (WATC) (AA+/Aa2) launched a syndicated increase to its October 2026 benchmark bond on 19 September. The forthcoming tap – which has ANZ, Commonwealth Bank of Australia, National Australia Bank and UBS as leads and is expected to price the day after launch – is being marketed at 10-year futures EFP plus 50-53 basis points or 62-65 basis points over Australian Commonwealth government bonds.