Sydney Airport places A$175 million in postponed refinancing deal
The five-year domestic bond issue
first sounded by Sydney Airport Corporation (Sydney Airport) (BBB/Baa2/BBB) in early May, then postponed as European-centred volatility gripped the market, placed volume of A$175 million (US$152.7 million) on June 28. The transaction is part of a buyback and exchange transaction for two outstanding credit-wrapped lines from the same issuer, due in November 2011 and December 2012.
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Pipeline building as Australian market gets off the canvas
With issuance emerging across sectors in the past week, market participants in Australia say the deal pipeline is building. While confidence is only starting to return and investors say caution still reigns, the first domestic bank benchmark and the first public corporate deal since April are expected to be a sign of things to come rather than a flash in the pan.
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