Province of Manitoba prices A$100 million in its third Kangaroo deal of 2014 [UPDATED]

Province of Manitoba (Manitoba) (AA/Aa1) mandated and priced a new 10.5-year Australian dollar deal on August 21, in what is the issuer’s third visit to the Kangaroo market so far in 2014. According to KangaNews data, Manitoba most recently visited Australia on April 2 with a A$50 million (US$46.4 million) tap to its September 2023 line. That deal had pricing of 74.5 basis points over Australian government bond (ACGB).

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NAB launches a new 5.25-year domestic benchmark deal

On August 21, National Australia Bank (NAB) (AA-/Aa2) launched a new self-led, senior-unsecured Australian dollar benchmark transaction with 5.25 year tenor. According to KangaNews data, NAB most recently issued a domestic benchmark also in senior-unsecured format, on August 19. That A$625 million (US$578.09 million) two-year floating-rate note had pricing of 31 basis points over bank bills.

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Kiwibank looking at AUD market again ahead of maturity

Kiwibank (A+/Aa3/AA) will meet debt investors in Australia and Asia at the start of next month, ahead of the October 20 maturity of its only outstanding Kangaroo bond. Kiwibank issued A$250 million (US$232.2 million) in a five-year Kangaroo guaranteed by the New Zealand government in 2009, making it the only financial-institution issuer to price a Kangaroo in that year.

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Australia’s wholesale tier-two market takes another bold leap

Investor comfort around new-style Basel III-friendly tier-two issuance continues to grow at a steady pace in Australia, the market’s most-recent issuer says. The latest transaction, from ME Bank, potentially paves the way for a previously untested new sector to come to the market which could help feed burgeoning demand for these instruments.

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UBS Australia prices A$1.1 billion in its second-ever public domestic deal [UPDATED]

On August 20, UBS Australia Branch (UBS Australia) (A/A2/A) priced a new dual-tranche five-year, senior-unsecured, benchmark transaction in the Australian domestic market. This is UBS Australia’s second public issue in the Australian domestic market, after a A$1.25 billion (US$1.17 billion) dual-tranche deal issued in 2010.

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Weekly update

Latest Issue 2014 July-August

Lastest Issue

Secondary takes the strain: market participants ponder the future of a highly regulated and divided trading environment. Queensland in the global spotlight. Global low-yield strategies roundtable. Fixed-income research poll winners announced. Middle East banks in focus. BNP Paribas's Bruce Spence...