TCorp’s term borrowing to remain the same following mid-year update
New South Wales Treasury Corporation (TCorp’s) term-funding requirement for 2017/18 remained unchanged following the New South Wales government’s half-yearly review, TCorp revealed on 14 December. Net new client loans and projected term maturities are also in line with the state budget in June.
NZGB programme remains unchanged following HYEFU update
In conjunction with the half-year economic and fiscal update (HYEFU) 2017, the New Zealand Debt Management Office (NZDMO) revealed in a New Zealand government bond (NZGB) programme update released on 14 December that its 2017/18 programme will remain unchanged from that published in its previous programme update, in August this year.
Vodafone takes no calls but investors still line up
The ability of Vodafone Group (Vodafone) to execute a sizeable Australian dollar transaction in short order and close to the end of a calendar year is testament to the further development of the local market, buy-side sources and intermediaries agree. The enhanced status of the Australian market is only emphasised by the issuer’s ability to print in scale without specific local premarketing.
Market factors and issuer approach drive SAFA’s blowout book
South Australian Government Financing Authority (SAFA) garnered a two-and-a-half times oversubscription in its fourth syndicated transaction of calendar year 2017. The issuer tells KangaNews this outcome reflects several market-driven factors as well as its own unique approach to syndication.
L-Bank’s Kangaroo strategy reaches the next juncture
L-Bank printed a new mid-curve Kangaroo transaction for the first time in more than a year on 8 December. In the wake of this deal, L-Bank’s Karlsruhe-based international funding officer, Sven Lautenschläger, tells KangaNews the deal is another step in the agency’s strategic plan to bolster its curve and enhance liquidity in its outstanding Australian dollar lines.