Semi-government syndication still in treasury corporations' armoury
- Friday, 22 October 2010
None of the four largest state government funders rule out the use of syndication for their future deals despite improving market conditions and ample demand for Australian semi-government debt. The most active syndicated state borrower – Queensland Treasury Corporation (QTC) (AA+/Aa1) – draws a key distinction between the use of lead managers to consolidate federal-guaranteed bonds into standalone lines and bookbuild for new benchmarks.