WATC prices new five-year FRN [UPDATED]

On May 9, Western Australian Treasury Corporation (WATC) (AAA/Aaa) priced a new five-year floating rate note (FRN) deal. The deal is WATC's first bookbuilt transaction since its benchmark issue in November 2012 which had a volume of A$1 billion (US$1.02 billion) and pricing of 60.25 basis points over Australian government bonds.Joint lead managers on the forthcoming issue are Commonwealth Bank and National Australia Bank.