Australian budget clears the way for index-linked CGS
The Australian federal budget, announced on May 12, has confirmed expectations of a borrowing requirement of A$60 billion (US$45.75 billion) for the 2009-10 financial year, some of which may be funded by renewed issuance of commonwealth inflation-linked bonds.
Members Equity upsizes and prices AOFM-led RMBS
The residential, mortgage-backed security (RMBS) deal priced by Members Equity Bank on May 11 was upsized to A$714 million (US$548.57 million) – an increase of A$84 million from its April 30 launch volume – with cornerstone investor the Australian Office of Financial Management taking A$500 million of the paper.