Semi government syndicated deals find opportunity in short maturities

In the second week of July two semi-government borrowers came to the Australian market with large syndicated deals as a result of reverse enquiry, for a total of A$1.5 billion (US$1.6 billion). Unusually, both transactions were for shorter-dated maturities: New South Wales Treasury Corporation (TCorp) sold A$1 billion of July 2014 paper and South Australian Government Financing Authority A$500 million of December 2013 notes.