Two banks in AOFM's five-name serial RMBS investment list
The firms set to benefit from the Australian Office of Financial Management (AOFM)'s serial investments in residential mortgage-backed securities (RMBS) programme include two from the banking sector as well as three non-bank names. The government debt management agency will inject a total of up to A$3.4 billion (US$3.06 billion) into a series of RMBS deals from the five firms.Rentenbank adds A$350 million to Kangaroo FRN
In a late finish to activity on January 27, Rentenbank (AAA/Aaa/AAA) tapped its January 2013 Kangaroo floating rate note (FRN) by A$350 million (US$313.18 million) long after the close of business. The increase brings the outstanding size of Rentenbank's FRN – which was first brought to market on January 14 this year – to A$650 million and aggregate Kangaroo issuance for the month to A$5.975 billion.IADB gets A$500 million in third Kangaroo of 2010
Inter-American Development Bank (IADB) (AAA/Aaa/AAA) priced its third Kangaroo deal of the month on January 22, selling A$500 million (US$451.15 million) in a new May 2013 line at 60 basis points over government bonds or 15 basis points over swap. Having already issued A$900 million of Kangaroo paper this year – both of them increases to existing lines – IADB's new deal makes it the biggest Kangaroo issuer of 2010.