TCC closes first NZ council retail deal since prospectus exemption [UPDATED]
Tauranga City Council (A) (TCC) closed its 2013 domestic offering – the first transaction from a New Zealand local council to be marketed to retail investors since these issuers were exempted from filing a full prospectus earlier this year – on November 14 having reached full subscription of the deal’s maximum size of NZ$50 million (US$28.25 million).ANZ National returns with 2010 and 2014 taps
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.FirstMac and Members Equity are first AOFM RMBS beneficiaries
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.Banco Santander to visit Australia but no deal expected
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.
Bendigo and Adelaide Bank launches A$75 million hybrid
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.