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On February 17, Transurban Finance (Transurban) issued an early redemption notice to the holders of its "series 12 non-credit-wrapped MTNs" which mature on June 8 this year. According to a statement released by the issuer, the offer covers A$200 million (US$142.16) of the floating-rate notes – or the total outstanding principal amount.
Australian and New Zealand deal activity slowed dramatically in the second week of February, with just one Kangaroo issue priced. Elsewhere, Commonwealth Bank of Australia released its half-year results on February 10, and revealed a measured response to growing external pressures.
A further strengthened capital position was emphasised by Commonwealth Bank of Australia (CommBank) in its February 10 half-year results presentation and in the media briefing which followed. The bank says it is cognisant of growing external pressures in funding markets but is taking a measured approach in response.
Australian-origin corporate issuance has been even slower than usual at the start of the new year, both at home and offshore. However, with reporting season fast approaching intermediaries believe global markets will continue to offer opportunities to Australian companies – albeit with challenges.
The first week of February saw steady deal flow, including from South Australian Government Financing Authority which printed the Australian market's second semi-government syndicated issue for 2016. Meanwhile, the Kauri market saw issuance from International Finance Corporation and KfW Bankengruppe.
On February 3, Inter-American Development Bank (IADB) (AAA/Aaa/AAA) priced a new, five-year bond in the Australian market. According to KangaNews data, IADB's most recent Kangaroo transaction was issued on January 28. That was a A$55 million (US$38.7 million) tap to its October 2025 line with pricing of 54.5 basis points over Australian Commonwealth government bond.