Another A$2.5 billion benchmark as QTC continues to keep options open

Despite the success of its second new unguaranteed benchmark deal of 2010 – in which the issuer priced A$2.5 billion of February 2020 bonds – Queensland Treasury Corporation (QTC) (AA+/Aa1) is still not ruling out future issuance under government guarantee before the scheme's year-end expiry. The new transaction priced at 16 basis points over swap on February 23.