Rentenbank returns to Kangaroo market with A$450 million 2014
On July 2, Rentenbank (AAA/Aaa/AAA) became the eighth supranational, sovereign and agency (SSA) issuer to return to the Kangaroo market in 2009 with the pricing of its A$450 million (US$361.49 million) new 2014 line. The deal came to market at a margin of 108.5 basis points over the benchmark 6.5 per cent June 2014 Australian government bond.Domestic guaranteed demand continues with A$4 billion in two days
Issuers outside the local big four banks continue to take advantage of the Australian government guarantee, with ABN AMRO Australian Branch (ABN) (A+/Aa2/AA-) and Bank of Queensland (BOQ) (BBB+/A2/BBB) bringing deals on July 1 and ING Bank Australia (ING) (AA-) following hot on their heels with another transaction a day later.
First half sees record issuance in Aussie market
Domestic vanilla issuance by Australian borrowers reached record volumes in the first half of 2009. By June 30 Australian non-government issuers had raised a total of just over A$40 billion (US$32.44 billion) in the year to date – almost reaching 2008's total figure of A$42.2 billion.
TCorp calls for long-end development as it adds to 2023
In the wake of a June 30, A$825 million (US$668 million) increase to its 2023 line, New South Wales Treasury Corporation (TCorp) (AAA/Aaa/AAA) has added its voice to the weight of opinion asking for more development of the long end of the Australian debt market curve.Rabobank back in the Aussie market with A$650m five-year
On June 26 Rabobank Nederland Australia Branch (Rabobank) (AAA/Aaa) priced a two-tranche July 2014 bond totalling A$650 million (US$533 million). The A$300 million floating rate notes (FRNs) and A$350 million fixed rate bonds priced at 130 basis points over the bank bill swap rate (BBSW) and swap. According to Mark Goddard, head of syndicate at joint lead manager Westpac Institutional Bank in Sydney, there were 50 investors in the book.