Third CIBC Kangaroo covered bond nets A$600 million [UPDATED]
Canadian Imperial Bank of Commerce (CIBC) (A+/Aa2, with covered bond programme ratings of AAA/Aaa/AAA) priced a new Kangaroo covered bond on July 21. The deal is CIBC's third Australian dollar covered bond, following the issuer's debut A$750 million (US$806.8 million)
three-year transaction in October 2010 and, more recently, a A$700 million
five-year issue in March this year. The latter was the first five-year covered bond transaction to price in the Australian market post-crisis.
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New 2021 bookbuild nets A$1.5 billion for QTC [UPDATED]
Queensland Treasury Corporation (QTC) (AA+/Aa1) used a bookbuild process for the new 10-year benchmark bond line it launched and priced on July 20. The issue was the agency's fourth syndicated transaction of 2011 and brought its total volume placed via this method in the year to date to A$9.6 billion (US$10.3 billion).
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