KBN's FRN increase increase prices tighter than inaugural trade
The increase to Kommunalbanken Norway (KBN)'s (AAA/Aaa)'s February 2013 floating rate notes (FRNs) that priced on February 10 priced at 35 basis points over the bank bill swap rate (BBSW), compared with 43 basis points over BBSW when the line was inaugurated on January 28.
Eurozone SSA Kangaroos feel valuation impact of bailout speculation [UPDATED]
Concerns over eurozone sovereign risk have affected relative valuation of supranational, sovereign and agency (SSA) Kangaroo bonds but market participants say the pricing moves have not come accompanied by major secondary flows. And with European Investment Bank (EIB) (AAA/Aaa/AAA) insisting it will not be used as the funding vehicle for any European sovereign bailouts, there are also hopes that market jitters will calm.ANZ kicks off domestic benchmark market with A$1.8 billion 2014
Following a subdued start to the domestic market in 2010, ANZ Banking Group (ANZ) (AA/Aa1) issued the first Australian benchmark deal of the year on February 11 with the issue of A$1.8 billion (US$1.6 billion) of fixed and floating rate, unguaranteed four year paper. The issuer says it is well ahead of its funding task for the financial year and may take opportunities to commence pre-funding for 2010/11.
Asian demand still in NIB Kauri ahead of Chinese new year [UPDATED]
A new Kauri deal priced by Nordic Investment Bank (NIB) (AAA/Aaa) saw Asian investors accounting for over a third of the book despite slowing markets ahead of the Chinese new year holiday. The February 12 transaction was for NZ$150 million (US$104.55 million) in a new February 2014 line and was lead-managed by ANZ and BNZ.APRA data shows Aussie fixed income super assets declined in 2009
The Annual Superannuation Bulletin released by the Australian Prudential Regulation Authority (APRA) on February 10 strongly suggests that the level of local superannuation funds allocated to Australian fixed income dropped significantly in the 2008/9 financial year. The fall was caused by declining asset value and a slightly reduced default allocation to domestic fixed income.