Westpac takes A$2.2 billion in second domestic RMBS of 2011 [UPDATED]
On June 16, Westpac Banking Corporation issued a new A$2.2 billion (US$2.3 billion) residential mortgage-backed securities (RMBS) transaction. The deal, which was upsized from a launch volume of A$1 billion, is Westpac's second RMBS of the year after the bank reopened the asset-backed market for the big four Australian banks with a A$1 billion issue in February.Covered bond market heats up as Kangaroo activity simmers
High-grade and international issuer activity dominated the Australian market this week, with Bank of New Zealand (BNZ)'s (AA/Aa2) covered bond the most eye-catching deal to close. There was also activity in the Kangaroo market from issuers in the supranational, sovereign and agency (SSA) sector, including a deal from a less-frequent borrower, while domestic credit issuance remained quiet.KfW's busy Kangaroo year continues with 2018 tap [UPDATED]
KfW Bankengruppe (KfW) (AAA/Aaa/AAA) launched its 12th Kangaroo transaction of 2011 on June 7, pricing a A$450 million (US$480.3 million) increase to the February 2018 line it introduced earlier this year. The agency has now sold A$5 billion of Kangaroos in 2011, trailing only the A$6.3 billion it placed in 16 deals in 2010 as its record Kangaroo year.Ontario announces 2020 Kangaroo tap [UPDATED]
The Province of Ontario (Ontario) (AA-/Aa1) completed a A$225 million (US$239.3 million) increase to its September 2020 Kangaroo on June 10. The line was inaugurated in September 2010 at a size of A$275 million with these two transactions remaining the only Australian deals to be placed by a Canadian province since Ontario itself last issued a Kangaroo bond in November 2006.Samurai market reopens for Australians with first CommBank deal since 2008
Commonwealth Bank of Australia (CommBank) (AA/Aa2/AA) completed its first Samurai transaction in three years on June 3 in what was also the largest Australian bank Samurai to come to market this year. The bank says it will continue to monitor opportunities in Japan following its ¥101 billion (US$1.3 billion) dual-tranche five-year deal, while market participants say the other major Australian banks may potentially strike while conditions remain favourable.