BNG returns to Kangaroo market with new seven-year line [UPDATED]
On February 18, Bank Nederlandse Gemeenten (BNG) issued a new A$200 million (US$202.3 million) seven-year Kangaroo bond in what was the borrower's first domestic market Australian dollar deal of 2011. BNG has been an infrequent visitor to the Kangaroo market since the financial crisis, with the new issue set to be just its fifth since 2006, although it is an active euro-Aussie borrower.Moody's places Australian big four on review for downgrade
Moody's Investors Service (Moody's) has placed all four of the major Australian banks on review for downgrade, citing "the Australian banking system's structural sensitivity to conditions in the wholesale funding market" as the reason behind the possible loss of Aa1 status. The banks' New Zealand subsidiaries have also been placed under review.
LeasePlan Australia returns to domestic market with first deal since 2007 [UPDATED]
On February 15 LeasePlan Australia (BBB+/A3/A-) mandated its first domestic transaction since June 2007, with the company pricing a new A$200 million (US$199.9 million) three-year line one day later. The deal was upsized from a launch volume of A$100 million.Westpac re-opens RMBS market with first big four deal since 2009 [UPDATED]
Westpac Banking Corporation (Westpac) issued a new A$1 billion (US$1.01 billion) residential mortgage-backed securities (RMBS) transaction on February 18 in what was the first Australian securitisation of the year and the first from a big four domestic bank since late 2009.