BNZ's NZ$415 million guaranteed tap illustrates growing demand
Bank of New Zealand (BNZ) (AA/Aa2) more than doubled the size of the only outstanding bond to be covered by the New Zealand government's wholesale guarantee on July 3, adding NZ$415 million (US$261.41 million) to the outstanding NZ$285 million in its February 2014 line.Rentenbank returns to Kangaroo market with A$450 million 2014
On July 2, Rentenbank (AAA/Aaa/AAA) became the eighth supranational, sovereign and agency (SSA) issuer to return to the Kangaroo market in 2009 with the pricing of its A$450 million (US$361.49 million) new 2014 line. The deal came to market at a margin of 108.5 basis points over the benchmark 6.5 per cent June 2014 Australian government bond.TCorp calls for long-end development as it adds to 2023
In the wake of a June 30, A$825 million (US$668 million) increase to its 2023 line, New South Wales Treasury Corporation (TCorp) (AAA/Aaa/AAA) has added its voice to the weight of opinion asking for more development of the long end of the Australian debt market curve.Domestic guaranteed demand continues with A$4 billion in two days
Issuers outside the local big four banks continue to take advantage of the Australian government guarantee, with ABN AMRO Australian Branch (ABN) (A+/Aa2/AA-) and Bank of Queensland (BOQ) (BBB+/A2/BBB) bringing deals on July 1 and ING Bank Australia (ING) (AA-) following hot on their heels with another transaction a day later.
First half sees record issuance in Aussie market
Domestic vanilla issuance by Australian borrowers reached record volumes in the first half of 2009. By June 30 Australian non-government issuers had raised a total of just over A$40 billion (US$32.44 billion) in the year to date – almost reaching 2008's total figure of A$42.2 billion.