Government forum report throws weight behind retail bonds
The Australian government has welcomed a report by the forum it established to help secure Australia's future as a financial services centre, in which the development of the retail bond market is a key pillar. The report, published by Australian Financial Centre Forum (AFCF) on January 15, recommends a simplified retail issuance regime for local and international corporates, government institutions and supranationals.Westpac's Samurai not enough to offset record Kangaroo activity
In a relatively quiet week for offshore issuance from Australasian names the most apparent trend was the reopening of currency markets outside the US dollar, with transactions priced in Canadian dollars, Swiss francs and – with easily the most volume – yen. However, despite Westpac Banking Corporation (Westpac)'s (AA/Aa1/AA-) ¥111.3 billion (US$1.22 billion) Samurai deal there was, for once, more Kangaroo market activity than issuance going offshore.