TCorp dealer panels expand again with addition of BAML
New South Wales Treasury Corporation (TCorp) increased the size of its domestic and global exchangeable dealer panels to 14 member banks on November 1 with the addition of Bank of America Merrill Lynch (BAML) to both. BAML is the second new intermediary to be added to TCorp's panels this year, following the accession of BNP Paribas in mid-August.NZ corporate market back with a long-awaited flurry of deals
After an extended quiet period, the New Zealand corporate market has seen activity resume of late with TrustPower (NR) closing a deal, Goodman Fielder New Zealand (Goodman Fielder NZ) (NR) completing its own bookbuild and APN Media NZ (APN) (NR) also having a transaction on the way. Market participants say retail investor credit appetite has never wavered, with the recent influx of deals resulting from issuer's decisions to take advantage of favourable domestic conditions.
Goodman Fielder completes bookbuild as NZ corporate market wakes
Goodman Fielder New Zealand (Goodman Fielder) (NR) announced on October 26 that it has completed the bookbuild of its forthcoming issue of May 2016 maturity bonds having upsized the offer to its maximum volume of NZ$250 million (US$187.9 million). The transaction has also had its interest rate set at the higher of 7.25 per cent or the benchmark swap rate on November 18 this year plus 280 basis points.