GE Capital Australia gets A$750 million in new domestic three-year [UPDATED]
GE Capital Australia (AA+/Aa2) has issued a new A$750 million (US$761 million) February 2014 dual-tranche domestic bond in advance of one of the issuer's outstanding lines falling due, on February 10. The A$500 million fixed rate tranche of the new deal priced at 110 basis points over semi-quarterly swap, while the A$250 million floating rate piece achieved a margin of 110 basis points over the three-month bank bill swap rate.EDC returns to Kangaroo market with new 2016 line [UPDATED]
Export Development Canada (EDC) (AAA/Aaa/AAA) issued a new A$500 million (US$506.6 million) five-year benchmark Kangaroo bond on February 8. The transaction is EDC's third Kangaroo deal and its second point on the AUD curve. EDC debuted in the Kangaroo market in August 2010, issuing A$650 million (US$658.4 million) in an August 2015 bond which it tapped in September to bring the line's outstanding to A$1 billion.Rentenbank completes first Kauri of 2011 [UPDATED]
On February 7, Rentenbank (AAA/Aaa/AAA) increased its September 2014 Kauri line by NZ$50 million (US$38.5 million). The tap adds to a line which was introduced in September 2009 at a size of NZ$100 million – Rentenbank's most recent Kauri deal. The deal priced in line with guidance, at 54 basis points over semi-quarterly swap, or 35 basis points over the April 2015 New Zealand government bond.Intermediary growth drives affecting top line positions and league tables
FEfforts by a number of global banks to ramp up their presence in the Australian dollar market are starting to feed through into presence on the top line of Kangaroo deals in particular. While a number of banks returned to the Kangaroo intermediary space as lead managers in 2010, the effect has been much more marked in market share terms in the first weeks of 2011.
Mother Nature not enough to stop QTC funding task reduction
Federal support for the repair of state-owned assets affected by the recent floods in Queensland have helped the state's treasury corporation reduce its expected borrowing requirement for the financial year 2010/11 to A$15 billion (US$15.2 billion). Queensland Treasury Corporation (QTC) announced the A$3 billion reduction in its annual funding task on February 2 following the state's mid-year budget update on January 28.