ING prices A$1.6bn four-year GG deal
On August 25 ING Bank (Australia) (ING) (AA-) priced A$1.6 billion of fixed and floating rate notes guaranteed by the Australian sovereign, at the expected price of 36 basis points over the bank bill swap rate (BBSW) and swap.
KfW taps 2013 line as Kangaroos continue to tighten
On Friday August 21 KfW Bankengruppe (AAA/Aaa/AAA) priced a A$300 million (US$252 million) increase to its 5.50 per cent August 2013 Kangaroo bond. The tap, led by TD Securities and UBS, brings the total outstanding in this line to A$700 million and total Kangaroo issuance this year from all issuers to A$9.25 billion.
TCorp prices biggest-ever inflation-linked bond
On August 18 New South Wales Treasury Corporation (TCorp) (AAA/Aaa) priced its biggest-ever single transaction inflation-linked bond. The A$800 million (US$661 million) 3.75 per cent November 2020 capital-indexed bond priced with an outright real yield of 3.75 per cent on a bookbuild basis, with J.P. Morgan as sole bookrunner.
Rabobank New Zealand prices five-year retail deal
On Friday August 21 Rabobank Nederland New Zealand Branch (Rabobank NZ) (AAA/Aaa) closed a NZ$100 million (US$68 million) retail issue, maturing in September 2014. The transaction, which was led by ANZ and BNZ Capital, priced at 94 basis points over the benchmark mid-swap rate, wider than the issuer's A$250 million tap of its 2012 line, which priced on 27 July.EIB cements position as biggest Kangaroo issuer
European Investment Bank (EIB) (AAA/Aaa/AAA) has priced the A$300 million (US$245 million) increase to its 6.5 per cent August 2019 bonds, bringing the total amount on issue to A$1.05 billion. This is the third 10-year transaction priced by a supranational in the Kangaroo bond market this year, following EIB's inaugural 2019 transaction and Inter-American Development Bank (IADB)'s opening of an August 2019 bond on August 6.