Kanga.Trends
Syndication still in semi-governments’ thinking but unlikely to be favoured.
CEB issues new 10-year.
Kangaroo market likely resilient to currency climb: deals from Crédit Agricole, SocGen, IFC and Rentenbank.
Kangaroo covered bond from CIBC.
WestLB roadshow focuses on domestic market.
Investec Australia closes guaranteed 2012s.
GE Capital Australia takes A$750m in its first deal since 2007.
CFS Retail and Adelaide Airport price domestic deals.
ME Bank issues A$1bn RMBS without S&P rating.
ING flags RMBS hopes following A$900m debut.
Strong demand keeps yield tight on NZDMO’s new 2019 benchmark.
Manukau and Tauranga add long-dated retail money.
ASB nets NZ$415m.
Goodman Fielder completes retail bookbuild.
Feature: Reading the runes
Australian investors are eyeballing their peers and regulators as they try to second-guess how liquidity will shift in the triple-A market in response to global and local regulation. The outcome is impossible to predict, but whatever emerges will inevitably have a radical impact on demand dynamics.
Roundtable: Corporate choices: assessing the relative merits of debt funding avenues
On October 22 eight corporate treasurers met in Sydney to discuss debt funding strategies, at a roundtable discussion sponsored by J.P. Morgan. They have appealing options – including in the bank loan and offshore debt capital markets. However, issuers are aware bank liquidity may be under pressure in the coming years, so they will continue to assess all options – including their home bond market – for raising debt capital.
Feature: The advice squad
Corporates’ relationships with their banks took a knock during the financial crisis as the availability of loan capital shrivelled. As a result, independent debt advisers say their role is becoming more significant in the funding decisions made by corporate borrowers.
Kanga.Deals
Exclusive data and league tables for Australian and New Zealand domestic markets as well as Kangaroo and Kauri deals priced in the year to October 25. |
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