CEB pricing pushes 2009 Kangaroo volume past A$10 billion
The A$300 million (US$251.88 million) new 2014 Kangaroo line priced by Council of Europe Development Bank (CEB) (AAA/Aaa/AAA) on September 4 pushed Kangaroo issuance in 2009 to an aggregate of A$10.1 billion, just A$415 million short of the previous year's figure and on course to break 2006's all time record issuance – A$14.72 billion – from supranational, sovereign and agency (SSA) issuers.Domestic demand focus for WestLB's A$650 million deal [UPDATED]
WestLB AG Sydney (WestLB) (BBB+/A2/A-) priced the one year-plus deal it launched earlier the same day on September 3, with distribution of the A$650 million (US$541.06 million) transaction understood to have been predominantly domestic. Although the issuer also has A$500 million of bonds issued in 2004 set to expire on September 30 the new transaction is not believed to be a direct refinancing.Mostly real money demand for CommBank's A$1.35 billion 2013
The margin of 89 basis points over swap and bank bill swap rate (BBSW) on the A$1.35 billion (US$1.13 billion) of four-year unguaranteed benchmark bond transaction priced by Commonwealth Bank of Australia (CommBank) (AA/Aa1/AA) on September 3 indicates the tightest level for a deal of this duration from a big four Australian bank issuer for nearly two years.