Rentenbank completes first Kauri of 2011 [UPDATED]
On February 7, Rentenbank (AAA/Aaa/AAA) increased its September 2014 Kauri line by NZ$50 million (US$38.5 million). The tap adds to a line which was introduced in September 2009 at a size of NZ$100 million – Rentenbank's most recent Kauri deal. The deal priced in line with guidance, at 54 basis points over semi-quarterly swap, or 35 basis points over the April 2015 New Zealand government bond.Mother Nature not enough to stop QTC funding task reduction
Federal support for the repair of state-owned assets affected by the recent floods in Queensland have helped the state's treasury corporation reduce its expected borrowing requirement for the financial year 2010/11 to A$15 billion (US$15.2 billion). Queensland Treasury Corporation (QTC) announced the A$3 billion reduction in its annual funding task on February 2 following the state's mid-year budget update on January 28.