Deal and ratings review, week ending July 31 2015

The recent deluge of supranational, soverign and agency Kangaroo issuance continued through to the end of July, supported by attractive market fundamentals. Meanwhile, in the Australian domestic market SABMiller priced its debut via a local subsidiary and World Bank reopened the Kauri market with an increase to its 2021 line.

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Direct insights: AOFM says RMBS divestment process remains on track

The Australian Office of Financial Management (AOFM)’s Canberra-based chief executive, Rob Nicholl, and director of financial risk, Michael Bath, have shared insights with KangaNews around their assessment of the progress to date of the agency’s divestment of residential mortgage-backed securities (RMBS).

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SABMiller prices A$700 million in its Australian debut [UPDATED]

SABMiller (A-/A3) priced a new, five-year benchmark transaction in the Australian market on July 30 via its fully guaranteed subsidiary, FBG Treasury Australia. The forthcoming deal priced 7 basis points inside guidance which was 135 basis points area over swap.

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ADB adds A$500 million to its January 2020 Kangaroo line [UPDATED]

Asian Development Bank (ADB) (AAA/Aaa) priced a tap to its January 2020 Kangaroo bond on July 31. According to KangaNews data, the line was introduced as part of a dual-tranche five- and 10-year transaction that was launched in January this year. The A$700 million (US$510.6 million) five-year bond had pricing of 44 basis points over Australian government bond.

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Latest Issue 2015 June-July

Lastest Issue

Rates market focus: HQLA regime reviewed, long-dated futures and New Zealand demand. Global perspectives roundtable. KangaNews Fixed-Income Research Poll 2015: full coverage. Australasian budget wrap. And much more…