New indices are first to include SSA Kauris [UPDATED]
The creators of two new New Zealand indices, which for the first time track the new wave of triple-A rated Kauri issuance in the country, are hopeful that the indices' adoption by local fund managers will help sustain demand for SSA bonds.APRA decision ends Aussie covered bond hopes
An April 29 announcement from Australian Prudential Regulation Authority (APRA) has killed off hopes that Australian financial institutions will be allowed to issue covered bonds in the near future – and may mean the products remain no more than a minor source of Kangaroo issuance.
RBNZ reviewing SSA repo quotas as agencies hit limits
Reserve Bank of New Zealand (RBNZ) is reviewing the limits SSA issuers are given for repo purposes as agencies in particular reach or approach their maximum Kauri volumes. And with RBNZ hoping to complete its review by mid-year market sources say there are more agency borrowers ready to issue Kauris if a favourable decision is made.EIB gets A$500 million done but market still difficult
After pricing a A$500 million (US$473.9 million) increase to its 2012 Kangaroo bond on April 18, European Investment Bank (AAA/Aaa/AAA) has acknowledged that the basis swap volatility which first entered the market just before Easter continues to be a barrier to deal making.
EUROFIMA taps 2010 Roo for second time in a week
EUROFIMA (AAA/Aaa) priced a further A$100 million (US$93.09 million) increase to its 2010 Kangaroo bond on April 11, having upped the line by A$200 million seven days previously. The total size of the bond has now reached A$700 million.