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NSWTC Landmark IssueNSW Treasury Corporation (TCorp) Landmark Issue
Release date:20 May 2009 New South Wales Treasury Corporation (TCorp) today issued $100m into its existing line of 2.75% 20/11/2025 Capital Indexed Bond (CIB). This takes the outstandings in this bond above $1 billion for the first time, with $1.0475bn now on issue. Together with the $614m of the NSWTC 2035 CIB on issue this takes TCorp’s total CIB outstandings to $1.6615 bn.
Stephen Knight, Chief Executive of TCorp says “TCorp first issued index bonds in November 2007 in response to a growing demand for inflation protection bonds from both asset managers and supply from TCorp’s borrowing clients, whose revenues are linked to inflation. This form of issuance is a natural fit for both asset and liability managers and TCorp remains an active and committed issuer into this sector. TCorp anticipates that, together with potential inflation linked supply from the Commonwealth, the asset management industry will continue to develop its focus on this sector as an important allocation for diversified funds. TCorp will announce its issuance plans for the next financial year after the NSW Budget on June 16 and welcomes feedback from all sectors of the market around the role inflation protected securities will play in the years ahead”.
For further information please contact Michael Allen, General Manager Treasury, Client & Risk Services on (02) 9325-9288.
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