Self-led deals dominate quiet week
A quiet week for new issuance meant little movement in KangaNews’s league tables. In the combined Kangaroo and domestic table (including self-led deals), nabCapital solidified its hold on second spot – behind Commonwealth Bank of Australia – on the back of its parent's A$310 million (US$297.48 million) private placement.Rentenbank joins BNG as NZ$500 million-plus Kauri agencies [UPDATED]
The NZ$50 million (US$38.29 million) increase to Rentenbank’s (AAA/Aaa/AAA) 2017 Kauri bond, which priced on June 6, has made it the second agency to exceed NZ$500 million outstanding in the market – until recently the repo-eligibility limit imposed on such issuers by Reserve Bank of New Zealand.Retail key to hybrids as Macquarie prices CPS
Retail demand, always significant in domestic hybrid transactions, accounts for a large majority of the Macquarie Group (Macquarie) A$600 million (US$572.22 million) convertible preference security (CPS) transaction which completed its bookbuild on June 4.