Kanga.Trends Westpac enters domestic guaranteed market. Macquarie Bank’s five-year GG bonds. Investec enters five-year GG market. Aussie banks’ USD five-year deals bought by single investor. Suncorp taps sterling line. Challenger causes consternation with decision not to call. ASX calls for longer-dated CGS. RMBS: investors only go for short-dated tranches. BNZ opens NZ wholesale GG market. Contact Energy deal almost doubles in size. AMP’s trans-Tasman LT2 deal. ANZ takes joint ownership of NZX debt indices.
Co-published article: Australian economy in recession, but could be worse Bill Evans, chief economist at Westpac Banking Corporation, predicts the Australian economy will contract by 1 per cent in 2009 but says with appropriate policy that low point will be followed by positive growth of around 1.5 per cent in 2010.
Roundtable discussions: The triple-A universe On March 11 a full spectrum of triple-A issuers met at Westpac Banking Corporation’s head office in Sydney to discuss the future with institutional investors. Liquidity is still the biggest issue market participants are dealing with but participants agree that at some point SSAs will make a comeback to the Kangaroo bond market.
Feature: The state they’re in When one rating agency downgraded the state of Queensland and its treasury corporation in late February and another put the pair on negative watch, secondary spreads on Australian semis ballooned once again and primary market issuance came to a standstill.
Kanga.Deals Exclusive data on AUD domestic deals priced in the year to March 20. Plus league tables for AU domestic bond market.
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