Rabobank New Zealand prices five-year retail deal
On Friday August 21 Rabobank Nederland New Zealand Branch (Rabobank NZ) (AAA/Aaa) closed a NZ$100 million (US$68 million) retail issue, maturing in September 2014. The transaction, which was led by ANZ and BNZ Capital, priced at 94 basis points over the benchmark mid-swap rate, wider than the issuer's A$250 million tap of its 2012 line, which priced on 27 July.TCorp prices biggest-ever inflation-linked bond
On August 18 New South Wales Treasury Corporation (TCorp) (AAA/Aaa) priced its biggest-ever single transaction inflation-linked bond. The A$800 million (US$661 million) 3.75 per cent November 2020 capital-indexed bond priced with an outright real yield of 3.75 per cent on a bookbuild basis, with J.P. Morgan as sole bookrunner.
MEB caps oversubscribed debut MTN at A$500 million
Members Equity Bank (MEB) (BBB/A2) saw a twice-oversubscribed book for its debut medium-term note (MTN) issue in the domestic market, a A$500 million (US$418.1 million) fixed and floating rate three year deal that achieved the tightest pricing yet for a guaranteed transaction from a small or regional Australian authorised deposit-taking institution (ADI).EIB cements position as biggest Kangaroo issuer
European Investment Bank (EIB) (AAA/Aaa/AAA) has priced the A$300 million (US$245 million) increase to its 6.5 per cent August 2019 bonds, bringing the total amount on issue to A$1.05 billion. This is the third 10-year transaction priced by a supranational in the Kangaroo bond market this year, following EIB's inaugural 2019 transaction and Inter-American Development Bank (IADB)'s opening of an August 2019 bond on August 6.