Kauri volume surpasses 2009 and 2010 despite issuance challenges
Lead managers on the most recent Kauri deal to come to market – International Finance Corporation (IFC)'s (AAA/Aaa) NZ$350 million (US$268.8 million) 2016 increase – continue to believe there are fundamental factors supporting further issuance. But they are also sanguine about the potential headwinds and say deal flow is likely to remain sporadic for the foreseeable future.AOFM completes nominal curve-extending deal via syndication [UPDATED]
The Australian Office of Financial Management (AOFM) announced the culmination of its long-awaited bond curve extension on October 7, with pricing of the new A$3.25 billion (US$3.3 billion) April 2027 issue completed on October 20. The new line has a coupon of 4.75 per cent and priced in line with indicative levels at 23 basis points over the April 2023 Treasury bond spread.