Deal and ratings review, week ending March 16 2012
Deal flow continued on a rapid and diverse trend over the past week including transactions in the Australian dollar covered bond, Kangaroo, Kauri and securitisation markets as well as vanilla domestic issues in Australia and New Zealand. In ratings actions the most significant move of the week was the downgrade of Macquarie Bank and Macquarie Group by Moody's Investors Service.
KBN returns to Kauri market with NZ$75 million 2019 [UPDATED]
Kommunalbanken Norway (KBN) (AAA/Aaa) launched and priced a new Kauri transaction on March 16. KBN is one of the most consistent issuers in the Kauri market having brought at least one New Zealand dollar deal in every year since the market opened for supranational, sovereign and agency issuers in 2007.ANZ debuts in domestic covered bond market with A$3 billion deal [UPDATED]
ANZ Banking Group (ANZ) (AA-/Aa2/AA-) priced its domestic covered bond debut on March 16, introducing e a four-year fixed- and floating-rate line. The deal is the third domestic covered bond issue from an Australian big four bank, following January transactions totalling A$6.6 billion from Commonwealth Bank of Australia (AA-/Aa2/AA-) and Westpac Banking Corporation (AA-/Aa2/AA-).