Reverse inquiry drives A$600 million ABN guaranteed 2011
The recent pickup in deal flow continued on October 1 with ABN AMRO Bank Australian Branch (ABN) (A+/Aa2/AA-) pricing A$600 million (US$527.22 million) of 15-month floating rate notes covered by the Australian government guarantee. The January 2011 maturity transaction priced at a margin of 25 basis points over three-month bank bill swap rate (BBSW).
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AOFM digesting success of A$4 billion TIB return
The Australian Office of Financial Management (AOFM) says the scale of demand for its A$4 billion (US$3.54 billion)
Treasury Indexed Bond (TIB) transaction has given the agency pause for thought regarding the significance of the asset class within its overall portfolio, especially as there is a further group of offshore investors who should start buying the product when the removal of interest withholding tax (IWT) is official.
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