2009 May

 











Kanga.Trends
AOFM still anchoring RMBS market as it passes half its quota
CBA surprises with jumbo domestic non-guaranteed trade
RBS brings AUD domestic deal backed by UK sovereign
Challenger will call RMBS issued in 2003
AMP Bank prices RMBS at tight margin
Bank of Queensland RMBS shows price consistency
ANZ National pays for volume in first NZ offshore guaranteed deal
Four NZ councils bring institutional deals
BNZ prices unguaranteed domestic trade at minimum volume
Rabobank to return to NZ hybrid market.

Feature: Stabilising the states
With states’ ability to fund themselves believed by some to be under serious threat, in late March Australia’s federal government offered to guarantee state debt. And despite the fact that the legislation required to back the guarantee is in limbo, investors believe even the promise of a guarantee has stabilised the semi-government bond market.

Feature: Signs of life
After years of neglect and months of speculation three corporate bonds were launched in the Australian domestic market in March. Although there are still significant obstacles to overcome before this market is in full renaissance, issuers and investors are encouraged by the early positive signs.

Feature: The loan arrangers
As the mammoth task of refinancing corporate Australia continues to throw frightening shadows over local debt markets, corporations are looking to the loan market for salvation. But the dynamics of the bank market may be changing as foreign banks threaten withdrawal, intermediaries woo fund managers and the federal government muscles in to provide a lifeline.

Kanga.Deals
Exclusive data on AUD and NZD domestic deals priced in the year to April 24.
Plus league tables for AUD and NZD domestic bond markets.