On March 2, Western Australian Corporation (WATC) (AA+/Aa2) mandated and priced a new, syndicated five-year Australian dollar benchmark floating-rate note (FRN). According to KangaNews data, WATC issued aggregate syndicated volume of A$3.2 billion (US$2.2 billion) in 2015, most recently printing a A$250 million March 2019 FRN in December at 22 basis points over bank bill swap rate.