QIC Shopping Centre Fund prices new domestic 2017 deal [UPDATED]
QIC Shopping Centre Fund (A-) has priced a new five-year fixed rate transaction on September 19 for A$200 million (US$208.6 million), at 185 basis points over swap - five points tighter than indicated at the launch. The deal, QIC Shopping Centre Fund's first public issue since pricing A$200 million in fixed rate notes in April 2011, is expected to price by September 20 2012.
KoGas prices debut three-year Kangaroo [UPDATED]
Korea Gas Corporation (KoGas) (A+/A1/A+) has priced a A$300 million (US$313.1 million) three-year bond at 155 basis points over the semi-quarterly swap rate - 10 basis points tighter than indicated at the launch. The transaction, which priced on September 20 2012, is the second corporate Kangaroo to issue since 2006 following a five-year deal by BP Capital on August 29 for A$500 million (US$521.9 million).
IADB returns to Kangaroo market with A$400 million new 2017 bond [UPDATED]
Inter-American Development Bank (IADB)(AAA/Aaa/AAA), priceda new five-year Kangaroo deal on September 19. This is the second five-year Kangaroo deal launched on September 18, with a favourable basis swap – although the five-year basis tightened to 35 basis points from 37.25 basis points in the past week according to National Australia Bank data – providing a tailwind.
Analysts await financial accounts to confirm offshore semi-buying trend
Ahead of the September 27 publication of Australia's financial accounts for the second quarter of 2012, some analysts believe there has been a broadening of demand for Australian assets among offshore buyers in favour of semi-government bonds. However, if a trend is emerging it remains in its very early days and most strategists say they are maintaining a watching brief rather than drawing conclusions.
QTC prices its second syndicated deal of 2012 [UPDATED]
Queensland Treasury Corporation (QTC) (AA+/Aa1/AA) priced A$750 million in a new bookbuilt transaction on September 19, its second such deal in 2012. The benchmark bond, to mature on July 21 2023, was launched on September 18 and its first following the new state government's inaugural budget and the subsequent downgrade of Queensland by Fitch Ratings.