NZDMO's Combes gets top job at LGFA
Philip Combes, treasurer at the New Zealand Debt Management Office (NZDMO) in Wellington, has been appointed the first chief executive officer of New Zealand's Local Government Funding Agency (LGFA). In a statement announcing his appointment, Combes – who will take up his new role early in 2012 – says he expects the LGFA "to be the second largest issuer in New Zealand's debt markets".Deal and ratings review, week ending November 11 2011
The week beginning November 7 saw a pickup in deal flow across all Australian public markets. After several weeks with no primary activity, the market saw the first semi-government transaction since September and the first Kangaroo deal in two weeks. Two securitisation deals also priced, while two issues were completed across the Tasman.APRA proposes covered bond and new subordinated securitisation rules
The Australian Prudential Regulation Authority (APRA) released a consultation document on November 8, setting out both its proposed full prudential standard for covered bonds and a tightening of rules on cross-bank holdings of subordinated securitisation tranches. APRA expects its full rules relating to covered bonds to come into effect in the first quarter of 2012.NTTCorp prices first syndicated semi-government issue in almost two months [UPDATED]
Northern Territory Treasury Corporation (NTTCorp) (Aa1) launched and priced a new fixed rate November 2017 domestic transaction on November 9. The new A$500 million (US$517.9 million) deal almost completes the semi-government's annual funding task of A$796 million, and follows on from a A$200 million issue pricing on September 2.Macquarie taps offshore ABS market for fourth time in 2011 [UPDATED]
Macquarie Leasing (Macquarie) completed its fourth offshore currency asset-backed securities (ABS) transaction this year on November 11. The A$553.8 million (US$561.4 million) deal has with most of its paper – US$500 million – denominated in US dollars.