QTC's new benchmark 2014 line will be unguaranteed
On January 20 Queensland Treasury Corporation (QTC) (AA+/Aa1) announced it will place a new November 2014 maturity bond line via syndication but without federal government guarantee. With QTC having applied for and received a guarantee on all its outstanding lines with maturities from 2011 to 2021, the new bond will be its only unguaranteed mid-curve price point.EIB's A$650 million tap takes SSA Kangaroos past monthly record
With the January 19 pricing of a A$650 million (US$) to European Investment Bank (EIB)'s (AAA/Aaa/AAA) August 2013 Kangaroo aggregate issuance from supranational, sovereign and agency (SSA) borrowers in the Australian market passed its all-time monthly record. A total of A$4.675 billion of SSA Kangaroos has been sold in January 2010, beating the previous peak of A$4.33 billion from November last year.
Government forum report throws weight behind retail bonds
The Australian government has welcomed a report by the forum it established to help secure Australia's future as a financial services centre, in which the development of the retail bond market is a key pillar. The report, published by Australian Financial Centre Forum (AFCF) on January 15, recommends a simplified retail issuance regime for local and international corporates, government institutions and supranationals.KfW gets its first A$2 billion Kangaroo with 2012 tap
The A$450 million (US$416.48 million) increase to KfW Bankengruppe (KfW)'s January 2012 Kangaroo bond that priced on January 19 brought the size of the line to A$2.1 billion, making it the issuer's first A$2 billion-plus line in the market and the joint third-largest Kangaroo outstanding. KfW is also just the second Kangaroo-issuing institution to have a bond of this size on issue.
Westpac's Samurai not enough to offset record Kangaroo activity
In a relatively quiet week for offshore issuance from Australasian names the most apparent trend was the reopening of currency markets outside the US dollar, with transactions priced in Canadian dollars, Swiss francs and – with easily the most volume – yen. However, despite Westpac Banking Corporation (Westpac)'s (AA/Aa1/AA-) ¥111.3 billion (US$1.22 billion) Samurai deal there was, for once, more Kangaroo market activity than issuance going offshore.