Australian Capital Territory (ACT) (AAA by S&P) launched a new, 10-year, benchmark domestic deal by syndication, on 15 May. The forthcoming transaction is being marketed in the range of 63-67 basis points area over the 10-year futures contract, equivalent to 64.25-68.25 basis points area over Australian Commonwealth government bond.
Western Australian Treasury Corporation (WATC) revealed a A$7.7 billion (US$5.3 billion) borrowing programme for the 2019/20 financial year on 13 May, following the release of the Western Australia (WA) state budget on 9 May. The new-money requirement is A$1.1 billion, down from the estimated A$1.5 billion at the last update on 31 March.
On 10 May, Australian Capital Territory (ACT) (AAA by S&P) revealed plans for a new, 10-year, domestic benchmark transaction, expected to launch in the near future. Commonwealth Bank of Australia, National Australia Bank and UBS have been mandated as joint lead managers.