BoS adds A$1.4 billion 2011 ahead of busy maturity year
On December 10 Bank of Scotland Australia (BoS Australia) (A+/Aa3) priced an Australian government guaranteed March 2011 domestic bond with a total volume of A$1.4 billion (US$1.28 billion). The deal consists of two tranches: A$250 million of fixed rate notes pricing at 55 basis points over the June 2011 government bond and A$1.15 billion of floating rate paper which priced at 25 basis points over swap.
World Bank is biggest SSA Kauri issuer following 2014 tap
On December 8, the World Bank (AAA/Aaa/AAA) priced a NZ$125 million (US$89.25 million) increase to its December 2014 Kauri bond at 12 basis points over swap or 25 basis points over the April 2015 New Zealand government bond – the second increase to that particular line in less than a week with both issues coming to market at the same price.Pipelines are AOFM's tool for supporting securitisation-dependent issuers
A day after announcing details of its next round of financial support for the residential mortgage-backed securities (RMBS) market, the Australian Office of Financial Management (AOFM) has released more information on the "pipeline funding" strategy it expects to use to aid RMBS-dependent institutions. Under this part of the scheme, issuers and arrangers are invited to apply for a series of AOFM investments in successive RMBS deals.The bank guarantee one year on: A$130 billion issued
One year after Commonwealth Bank of Australia (CommBank) (AA/Aa1/AA) launched the first Australian government guaranteed bank transaction, the sector has issued a total of around A$130 billion (US$119 billion) in nearly 400 transactions across currencies. And while the use of the guarantee has gradually declined, issuance has surpassed the equivalent of US$10 billion in every three month period.