More 2020 issuance next likely step in Telstra's domestic campaign
Following a tap to the line on November 10, KangaNews understands that Telstra Corporation (Telstra) (A/A2) would ultimately like to increase its June 2020 domestic bond to A$500 million (US$499.2 million). Having most recently tapped the 2020 by A$200 million, to total A$350 million, Telstra's ultimate aim with this bond is to increase it to A$500 million over time.No imminent issuance slowdown predicted as year end approaches
Issuance across the corporate and securitisation markets continued in the past week with the pricing of a pair of corporate deals and more than A$1 billion (US$997.7 million) of securitised paper, with another innovative residential mortgage-backed securities (RMBS) deal launching. Market participants note that Kangaroo deal flow is limited, but they expect consistent domestic issuance to continue as borrowers take advantage of favourable conditions that may not last into 2011.Rabobank Australia increases 2014 domestic FRN to A$1 billion [UPDATED]
Rabobank Nederland Australia Branch (Rabobank Australia) (AAA/Aaa) has increased the July 2014 line it introduced in June last year. The increase, which launched and priced on November 10, is for A$275 million (US$275.8 million) to bring the floating rate tranche of the line from its previous A$725 million size to A$1 billion.CommBank adds fixed rate tranche to Bankwest RMBS
Commonwealth Bank of Australia (CommBank) subsidiary Bankwest launched its second residential mortgage-backed securities (RMBS) transaction of 2010 on November 11, in what is also likely to be the first sizeable Australian RMBS deal to come to market without support from the Australian Office of Financial Management (AOFM) since May this year.