AOFM digesting success of A$4 billion TIB return
The Australian Office of Financial Management (AOFM) says the scale of demand for its A$4 billion (US$3.54 billion)
Treasury Indexed Bond (TIB) transaction has given the agency pause for thought regarding the significance of the asset class within its overall portfolio, especially as there is a further group of offshore investors who should start buying the product when the removal of interest withholding tax (IWT) is official.
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ING Bank sells A$600 million guaranteed 2012 via private placement
ING Bank Australia (ING Bank) (AA-) returned to the Australian market on September 30, taking away A$600 million (US$525.18 million) of three-year money at the tightest level yet seen for a government-guaranteed transaction of this duration in Australia. The fixed rate deal, which is also the first guaranteed AUD bond issue for three weeks, priced at a margin of 20 basis points over swap.
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