Suncorp Metway prices two-tranche 2013 bond
On November 23 Suncorp Metway (Suncorp) (A+/A1/A+) priced a A$900 million (US$886.9 million) two-tranche June 2013 transaction via Deutsche Bank and UBS Investment Bank. The A$300 million fixed rate notes and A$600 million floating rate notes priced at 110 basis points over swap and the three-month bank bill swap rate, respectively.IFFIm prices debut Kangaroo bond
On Tuesday November 23 the International Finance Facility for Immunisation (IFFIm) (AAA/Aaa/AAA) priced its inaugural Kangaroo bond via Commonwealth Bank of Australia and RBC Capital Markets. The A$400 million (US$394 million) five-year bond offers a 5.57 per cent coupon and priced at 76 basis points over the April 2015 Australian Commonwealth government bond.Stockland lengthens maturity profile with new 10-year and buyback
Stockland (A-) has completed a new A$160 million (US$158.4 million) 10-year domestic line, which was upsized from a launch volume of A$100 million. As part of the exchange offer, the issuer also conducted a partial buyback of its outstanding June 2011 and May 2013 maturities, accounting for a total of A$70 million of paper across the two lines.Securitisation prospects assessed as 2010 finishes strong
The Australian securitisation market is approaching year end in much the same way it did 12 months ago, with a clutch of deals coming to market in the final weeks including a smattering of activity without the support of the Australian Office of Financial Management (AOFM). Market participants say there are a number of key issues still to be worked out but also believe there are reasons to be hopeful about 2011's prospects.
Sydney Airport to redeem all outstanding 2011 bonds
Following a notice issued to bondholders (via their nominees) on October 8 2010, Sydney Airport Corporation (Sydney Airport) (BBB/Baa2/BBB) will redeem all outstanding November 2011 bonds totalling A$282.2 million, on November 22. These are the bonds that were partially exchanged and extended in June 2010, in conjunction with Sydney Airport's new A$175 million July 2015 bond issue.