News
The second week of October saw Queensland Treasury Corporation print a A$1.75 billion (US$1.4 billion) 2030 benchmark by syndication, while the Australian Office of Financial Management and Treasury Corporation of Victoria successfully tendered A$3.5 billion and A$500 million of their respective 2022 and 2028 lines. Elsewhere, Auckland International Airport reopened its 2027 Kangaroo and printed NZ$100 million (US$71.3 million) in a new 5.5-year retail domestic deal.
The Australian Office of Financial Management (AOFM) (AAA/Aaa/AAA) mandated a syndicated tap of its March 2047 benchmark bond on 13 October, with launch expected in the week beginning 16 October. The forthcoming tap issue will be of ‘modest size’, according to lead managers Citi, Deutsche Bank and TD Securities.
The state treasurer for Western Australia (WA), Ben Wyatt, says a recently released Productivity Commission report recommending a radical overhaul of goods and services tax (GST) distribution among states puts the impetus firmly on the Commonwealth government to follow through.