NIB's second Kauri of 2009 makes it largest offshore NZ issuer
Following the November 6 pricing of its second Kauri transaction of 2009 – a NZ$100 million (US$74.04 million) increase to the issuer's 2015 line – Nordic Investment Bank (NIB) (AAA/Aaa/AAA) has become the largest Kauri issuer by outstanding volume. Its total of NZ$950 million in two New Zealand market lines pushes European Investment Bank (EIB)'s (AAA/Aaa/AAA) NZ$900 million into second place.EIB breaks Kangaroo records with A$1.5 billion new 2015 [UPDATED]
On November 11 the European Investment Bank (EIB) (AAA/Aaa) priced a A$1.5 billion (US$1.39 billion) April 2015 Kangaroo bond – the largest single tranche transaction ever issued into the Kangaroo market. The new line priced at 83 basis points over the benchmark April 2015 Australian government bond, which rate sheet data indicates equates to the region of 23-25 basis points over swap.
ANZ seven-year hybrid points to confidence revival, lead says
The second hybrid deal from an Australian big four bank to launch in just over two months is a sign of returning confidence in the asset class, according to one of the leads on the latest transaction. ANZ Banking Group (ANZ) (AA/Aa1/AA) launched its CPS2 deal on November 10 seeking volume of A$750 million (US$697.13 million) with room to up- or downsize depending on demand.