Deal and ratings review, week ending November 21 2014

Australian deal flow is starting to show clear signs of flagging as the market turns its eyes to year end, with only two domestic and one Kangaroo deal pricing in the past week. In the securitised market, Beyond Bank returned with its first deal since 2011.

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EDC adds A$300 million to its 2019 line [UPDATED]

Export Development Canada (EDC) (AAA/Aaa) mandated and priced increas to its existing 2019 Kangaroo bond on November 21. According to KangaNews data, the deal is the first increase of the line which was introduced in May this year for a volume of A$400 million (US$345.1 million) and pricing of 41.25 basis points over Australian government bond.

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Beyond Bank prices A$300 million in its first RMBS deal since 2011 [UPDATED]

Beyond Bank priced its second-ever Australian dollar residential mortgage-backed securities (RMBS) issue on November 21. 

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Mitsubishi Corp prices A$100 million in its new curve-extending domestic deal [UPDATED]

MC Finance Australia (Mitsubishi Corp) (A+/A1) priced its second-ever deal in the domestic market on November 21. 

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TCorp expects renminbi to feature in future funding mix following debut

As the debut Australian sovereign or semi-government issuer of renminbi-denominated bonds, New South Wales Treasury Corporation (TCorp) says it is firmly committed to playing an instrumental role in the continued development of the renminbi market. Although the deal itself was small in the context of TCorp’s funding requirement, the issuer says it expects the significance of the renminbi to grow in the coming years.

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Weekly update

Latest Issue 2014 November Supplement: Corporate Yearbook

Lastest Issue

The fifth annual KangaNews guide to Australasian corporate issuers, sponsored by Westpac Institutional Bank. Featuring 71 profiles.