Woolworths prices new five year at tighter price inside a day [UPDATED]
Woolworths (A-/A3) priced a new five-year domestic bond deal on March 7, the same day as launch, in the issuer's first transaction in the domestic market since 2006. The deal priced at 105 basis points over swap, 5 basis points inside its indicative margin, and with volume of A$500 million (US$506.1 million).SSAs' turnover data sets out case for state liquidity comparison
The liquidity of supranational, sovereign and agency (SSA) Kangaroo bonds continues to be a hot topic in the wake of the asset class's non-inclusion in the Australian Prudential Regulation Authority (APRA)'s recent determination on liquid assets. The two largest SSA Kangaroo borrowers believe the turnover in their Australian dollar paper – even during the financial crisis – is the equal of all but the highest volume-issuing semi-governments.RBS Australia upsizes new benchmark domestic deal [UPDATED]
The Royal Bank of Scotland Australia Branch (RBS Australia) (A+/Aa3/AA-) issued a new A$1.7 billion three-year dual-tranche domestic bond on March 3, which was upsized from a launch volume of A$500 million. The issuer visited the Australian market twice last year when it inaugurated a A$1.5 billion (US$1.5 billion) dual-tranche line in August and subsequently increased the fixed rate piece by A$300 million one month later.CPA completes buyback and first new issue since 2006 [UPDATED]
On March 3, Commonwealth Property Office Fund (CPA) (A-/A3) completed a partial buyback of its June 2011 maturity and simultaneous new A$200 million (US$203.1 million) five-year fixed rate issue. The buyback reduces the original volume of A$140 million on issue in the fixed rate tranche by A$107.5 million, and the A$60 million of floating rate paper by A$50.5 million.