On June 2, Western Australian Treasury Corporation (WATC) (AA+/Aa2) priced a new fixed-rate, 2027 maturity A$700 million (US$506.8 million) transaction. According to KangaNews data, WATC most recently brought a syndicated deal to the domestic market in April this year when it issued A$1.1 billion of six-year notes. This transaction priced at 55 basis points over Australian Commonwealth government bond (ACGB) and was WATC's second benchmark deal for 2016.