VW Australia takes A$100 million in fourth deal of 2010 [UPDATED]
Volkswagen Financial Services Australia (VW Australia) (A/A3) issued a A$100 million (US$100.3 million) increase to its August 2013 bond in what will be the issuer's fourth transaction in the Australian market this year. The tap - which was upsized from a A$50 million launch volume - brings the outstanding volume of the issuer's 2013, which was introduced in August and increased once in September, to A$250 million.Telstra increases 2020 domestic line by A$200 million [UPDATED]
On November 10, Telstra Corporation (Telstra) (A/A2) increased its June 2020 domestic line by A$200 million (US$200.5 million), upsized from a launch volume of A$100 million. The line was inaugurated in June this year, and was Telstra's first domestic transaction in almost four years. The deal priced in line with the expected margin of 175 basis points over semi-quarterly swap – a margin 25 basis points tighter than the original trade.APN Media launches NZ$150-200 million domestic deal
APN Media (NR) launched what many market participants expect will be the final New Zealand retail corporate transaction of 2010 on November 8, announcing the forthcoming sale of a minimum of NZ$150 million (US$118.2 million) of March 2016 bonds. The deal, which has room for an upsize of up to NZ$50 million, will have its margin set on November 12 and will be issued on December 15.CommBank confident FRN retail format will minimise term deposit crossover [UPDATED]
Commonwealth Bank of Australia (CommBank) (AA/Aa1/AA) completed the bookbuild of its five-year retail-format senior bond offer on November 26. CommBank has confirmed a minimum A$500 million (US$481.75 million) of retail bonds will be sold to eligible brokers, with the capacity to increase the final deal volume to A$1 billion before the offer closes on December 17. The margin has been set at 105 basis points over bank bill swap rate (BBSW).