BoQ nets A$325 million in new three-year FRN [UPDATED]

On May 23, Bank of Queensland (BoQ) (BBB+/Baa1/BBB+) priced a new three-year transaction in the Australian market. According to KangaNews data BoQ priced its previous domestic senior unsecured issue in November last year, a three-year floating rate note with volume of A$250 million (US$245.3 million) and pricing of 160 basis points over bank bill swap.

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KBN prices new five-year A$250 million Kangaroo [UPDATED]

On May 23, Kommunalbanken Norway (KBN) (AAA/Aaa) priced a new five-year Kangaroo line – the 15th mandate in the Kangaroo market in May to date. According to KangaNews data, KBN priced its previous issue in April this year with a volume of A$200 million (US$195.55 million) and pricing of 136.75 basis points over Australian government bond.

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Confirmed pricing details on Downer’s Australian market return [UPDATED]

Downer Group Finance (Downer) – the issuing entity of Downer EDI (BBB-) – priced a new issue of five-year maturity Australian dollar notes on May 22 in the issuer’s first domestic public bond transaction since 2009. The transaction also suggests growing momentum in the Australian dollar market for lower triple-B rated issuers: according to KangaNews data it is the fourth such deal to launch so far this year following just one in full-year 2012.

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Kauri deal activity resumes as NIB launches 2018 tap

After its longest period without a deal so far in 2013 – nearly three weeks, according to KangaNews data – the Kauri market resumed on May 23 as Nordic Investment Bank (NIB) (AAA/Aaa) launched an increase to its five-year bond. Overall the Kauri market remains on record pace, with NZ$3.65 billion (US$2.94 billion) already priced this year, and a solid second half could see the all-time annual issuance record broken.

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IADB adds A$175 million to its 2017 Kangaroo [UPDATED]

On May 22, Inter-American Development Bank (IADB) (AAA/Aaa/AAA) priced an increase to its 2017 Kangaroo. The new deal is the second tap to the line since it was issued in September 2012 at a volume of A$400 million (US$391.63 million) and pricing of 80.5 basis points over Australian government bond (ACGB). The line saw its first tap in February 2013 when IADB added A$150 million at 58.5 basis points over ACGB.

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Weekly update

Latest Issue 2013 May

Lastest Issue

Asset allocation innovations. Corporates in focus: offshore funding and equity credit hybrids. RBNZ on the pourpose of OBR. Plus news, commentary, market analysis and deal data.