ARTC tightens and upsizes debut domestic bond issue [UPDATED]
Australian Rail Track Corporation (ARTC) (Aa2) priced its inaugural domestic medium-term note (MTN) transaction on December 9, with the size of the issue increased to A$200 million (US$195.6 million) and its margin tightened by 5 basis points to 145 basis points over swap. The seven-year deal was launched a day previously at an indicative volume of A$150 million.
Securitisation market showing no signs of stopping as two new deals launch
The asset-backed market continues to see activity in the last weeks of 2010 with two new deals launching in recent days and at least one more possibly to come before year end. The most recent residential mortgage-backed securities (RMBS) launch, from Bendigo and Adelaide Bank (BEN) on December 7, features an innovative capital structure with more than 50 per cent of the trade made up of a series of bullet tranches.