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ANZ National Bank (AA/Aa2/AA-) returned to its domestic market on November 5, pricing a combined NZ$135 million (US$81.36 million) of increases to its June 2010 and 2014 lines in a transaction led by its subsidiary ANZ.

Banco Santander (AA/Aa1/AA) has confirmed it is visiting Australia in the week beginning November 10 in a roadshow arranged by J.P. Morgan and Westpac Institutional Bank, although sources connected to the roadshow are stressing no deal should be expected in its wake.

On October 29 the Australian Office of Financial Management (AOFM) announced it has awarded the first two mandates to arrange the issue of residential mortgage-backed securities (RMBS) under the Australian Treasury’s A$8 billion (US$5.13 billion) package to stimulate activity in this sector.

Bendigo and Adelaide Bank (BBB+/A2) (BEN) lodged a prospectus for a new convertible preference share (CPS) offer on October 29, with the deal's managers confident that its headline yield will attract retail investors despite the ongoing vogue for government-guaranteed bank deposits.

Bank of New Zealand (AA/Aa2) (BNZ) increased its May 2015 line by NZ$135 million (US$77 million) on October 29 in the first domestic transaction by a New Zealand bank since early September.

The Senate committee examining the bill proposing exemption from interest withholding tax (IWT) for offshore buyers of Australian state and territory debt has asked for more time to reach its conclusions, but state treasury representatives remain hopeful of an unproblematic resolution.

The Australian Treasury has answered one of the biggest questions surrounding its proposed guarantee on bank term funding – the fee that will be levied for the guarantee to be applied to bond issues – but bank funding officials believe there are still too many unanswered questions to predict whether they will use the scheme.

In the last three weeks the New Zealand market has bucked the trend for credit aversion with three corporate bond deals were opening in that time – one of them a Kauri and two aimed at an institutional investor base.

Council of Europe Development Bank (AAA/Aaa/AAA) (CEB) returned to the Kauri market on October 10 with an ANZ-led NZ$50 million (US$29.57 million) increase to its 2018 line, which is the longest-dated Kauri bond in the market.

Northern Territory Treasury Corporation (Aa1) (NTTC) increased its 2013 bond by A$106 million (US$73.73 million) on October 8 in a UBS Investment Bank (UBS)-led deal, as the issuer seeks, like the other Australian states, to finance significant infrastructure projects.

Rentenbank (AAA/Aaa/AAA) and Kommunalbanken Norway (KBN) (AAA/Aaa) priced deals in the Kauri market on October 7 and 8 respectively, with the Bank of New Zealand (BNZ)-led new Rentenbank 2011 deal in particular drawing attention as a result of its swap-flat pricing.

Westpac Banking Corporation (AA/Aa1/AA-) (Westpac) brought the first domestic vanilla transaction for over six weeks on October 2, pricing a total of A$1.48 billion (US$1.17 billion) of two- and three-year paper at pricing levels investors say are impressive given recent market turmoil.