Commentary & Deal Flow

Reoffer: 25yr: SARON MS+50bp / 100 / 1.2875%

• Issuer: Treasury Corporation of Victoria
• Ticker: TCV
• Guarantor: Government of Victoria pursuant to Section 32(1) of the Treasury Corporation of Victoria Act 1992 of the State of Victoria
• Guarantor Domicile: Australia
• Format: Public Fixed-Rate Notes
• Status: Senior, Unsecured, and Unsubordinated
• Guarantor Rating: Aa2 (stable) by Moody's, AA (stable) by S&P, AA+ (stable) by Fitch
• Instrument Rating (exp): Aa2 by Moody's, AA by S&P, AA+ by Fitch
• Issue Size (in mm): CHF 105mm
• Coupon: 1.2875% p.a.
• Maturity: 25 years (10-Nov-26 until 10-Nov-51)
• Issue Price: 100
• Spread/Yield: SARON MS +50.0 // YTM 1.2875% // Govt.+77
• ISIN / Security Number: CH1619474039 / 161947403
• Lead Manager(s): UBS
• SNB Repo-eligibility: At the discretion of the SNB, expected yes (HQLA: Level 1)
• Documentation: TCVs EMTN Programme dated 31-Jan-24
• FinSA Prospectus: Delayed prospectus approval in accordance with article 51(2) FinSA
• Governing Law: English law
• Covenants: PP, NP
• SIX Listing: 06-Nov-26
• Denomination: CHF 5000
• Sales Restrictions: In accordance with selling restrictions of TCVs EMTN Program