Woolworths nets strong 10-year support in Australian corporate return
Woolworths Group reopened the Australian dollar corporate bond market on 13 May with a dual-tranche transaction that leads say attracted a surprising level of support for 10-year tenor.
AOFM lands record deal as market picture clears
The Australian Office of Financial Management (AOFM)’s December 2030 syndication provided an opportunity to test capacity amid what the issuer says are greatly improved market conditions.
Benchmark achieved, Kangaroo social bonds next for NRW.BANK
NRW.BANK posted its largest-ever Kangaroo deal on 13 May in what the issuer says is the culmination of many years of investor engagement. The agency reveals plans to extend its Australian dollar presence this year, potentially with a social bond transaction.
La Trobe Financial completes RMBS return without AOFM support
La Trobe Financial says third-party demand was sufficient to print a repeat residential mortgage-backed securities (RMBS) deal without direct investment from the Australian Office of Financial Management (AOFM). The issuer credits the presence of the government as a backstop and a secondary buyer for boosting confidence in its issuance return.
Technicals and tailwinds swinging to support for secondary credit
The secondary market for Australian dollar financial institutions (FIs) and corporates is showing signs that the severe dislocation of March and early April is abating, market participants say. A new relative-value proposition is leading fund managers to consider returning to allocation to certain sectors.