AOFM adds detail to second A$8 billion RMBS programme
Instead of the previous request for proposal (RFP) process, issuers will be invited to bring reverse inquiries to the Australian Office of Financial Management (AOFM) to secure part of the second injection of government money into the local residential mortgage-backed security (RMBS) market. In a December 7 notice, the AOFM also says it hopes to buy smaller proportions of selected RMBS than was the case with its first support package.BNG sells A$300 million in public Kangaroo return [UPDATED]
Bank Nederlandse Gemeenten (BNG) (AAA/Aaa/AAA) priced A$300 million (US$278.16 million) in a new three-year Kangaroo deal on December 3 – the issuer's first public transaction in the market for over three years. The agency recently priced its first Kangaroo transaction since November 2006 when it sold A$230 million of 2013 bonds in a private placement.Five-year tap puts EIB's Kangaroo volume past A$6 billion in 2009
With the A$500 million (US$462.4 million) increase to its 2014 line on December 2, European Investment Bank (EIB)'s (AAA/Aaa/AAA) issuance total in the Kangaroo market in 2009 reached A$6.05 billion – easily a record for a single borrower year. The latest deal brings the volume of EIB's 2014 line to A$2.4 billion, making it the second largest outstanding Kangaroo and just A$100 million smaller that the same issuer's 2013.World Bank reopens Kauri market with first deal in a month
In the first Kauri transaction to price since November 6, the World Bank (AAA/Aaa) increased its December 2014 bond by NZ$175 million (US$126.93 million) to bring the total outstanding in the line to NZ$475 million. The December 3 transaction was anchored by domestic demand according to TD Securities (TD), which lead-managed along with ANZ.BEN doubles size of non-government RMBS
Bendigo and Adelaide Bank (BEN) (BBB+/A2/BBB+) priced its first non-government backed residential mortgage-backed securities (RMBS) transaction of 2009 on December 2, doubling its indicative size from launch on November 27 to A$1 billion (US$928.2 million). It also achieved a tighter margin on the largest tranche than those of other recent RMBS deals.