New Zealand leads deal flow as Australia flatters to deceive
For much of the week, primary markets in Australia and New Zealand offered an eerie echo of the respective nations' performance in the World Cup so far. While a powerful European-based threat has been enough to cow Australia on and off the field, New Zealand refused to submit to the European menace and fought back with a major score of its own.Telstra reopens domestic corporate bond market with 10-year
On June 17 Telstra Corporation (Telstra) (A/A2) reopened the domestic corporate bond market after almost two months since the last domestic corporate deal, with a A$150 million (US$129.4 million) 10-year deal priced at 200 basis points over 10-year mid-swaps.QTC announces slight year-on-year drop in funding target
A week after the state of Queensland released its budget for the 2010/11 financial year, Queensland Treasury Corporation (QTC) (AA+/Aa1) announced a small fall in its expected funding task for the coming 12 months. There is also room for further reduction in the A$18.1 billion (US$15.4 billion) indicative borrowing programme as the projection does not account for potential asset sales or pre-funding in the remainder of June.EIB to increase 2019 Kangaroo
European Investment Bank (AAA/Aaa/AAA) has mandated ANZ, J.P. Morgan and UBS Investment Bank to lead manage what will be the third Kangaroo transaction in the past week. EIB will increase its August 2019 Kangaroo line, which currently has A$2.6 billion (US$2.2 billion) outstanding, "in the near future subject to market conditions," the leads say.