NZDMO borrowing programme to rise then fall
The New Zealand Debt Management Office (NZDMO)'s borrowing programme for the next four financial years, published alongside the national budget on May 24, projects steadily falling issuance in the years to 2015/16. The issuance figure for the current financial year has been increased by NZ$1.5 billion (US$1.1 billion), to NZ$15 billion, as part of a plan to reduce Treasury bill outstandings by NZ$4 billion in 2012/13.BOQ upsizes ABS return to A$700 million equivalent [UPDATED]
On May 23, Bank of Queensland (BOQ) returned to the non-mortgage asset-backed securities (ABS) market for the first time since 2008 with its A$700 million (US$683.8 million) Series 2012-1E Reds EHP Trust auto-loan backed transaction. The deal's largest tranche comprises notes denominated in both Australian dollars and sterling.