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Council of Europe Development Bank (AAA/Aaa/AAA) (CEB) returned to the Kauri market on October 10 with an ANZ-led NZ$50 million (US$29.57 million) increase to its 2018 line, which is the longest-dated Kauri bond in the market.
Rentenbank (AAA/Aaa/AAA) and Kommunalbanken Norway (KBN) (AAA/Aaa) priced deals in the Kauri market on October 7 and 8 respectively, with the Bank of New Zealand (BNZ)-led new Rentenbank 2011 deal in particular drawing attention as a result of its swap-flat pricing.
Political progress on the exemption of semi-government bonds from interest withholding tax (IWT) was a central topic of discussion as Commonwealth Bank of Australia (CommBank) and Queensland Treasury Corporation (QTC) brought Australian state treasuries and government treasuries from both Australia and New Zealand together with international investors in Australia on September 24-27.