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Telstra Corporation (Telstra) (A/A2/A) priced a new fixed rate benchmark issue into the domestic market on November 8. According to KangaNews data the company's last issue into the public domestic market was in May 2011, when it priced a nine-year transaction for A$150 million (US$155.1 million) at 160 basis points over semi-quarterly coupon-matched asset swap.

On October 30 Australian Prime Property Fund Retail (APPF Retail) priced a A$350 million (US$362.1 million), three-tranche fixed-rate senior unsecured domestic transaction. According to KangaNews data, this is the first corporate bond deal in the Australian domestic market to have more than two tranches since 2007.

In its annual results, presented on November 5, Westpac Banking Corporation (Westpac) says it achieved access to a range of new wholesale investors in the 2011/12 financial year. As with the other major banks to report in recent weeks, Westpac also emphasises the strength of its deposit and capital bases, its relatively low reliance on short-term funding, and the growth of its liquid assets book.

The last week of October saw a pair of Kangaroos and a trio of domestic deals, including a three-tranche issue from the Australian Prime Property Fund Retail with three separate maturities. The New Zealand markets also saw deal action after Genesis Power priced NZ$50 million last week, ushering in a new transaction by Meridian Energy and prospects of a deal by Kiwibank.

Western Australian Treasury Corporation (WATC) (AAA/Aaa) priced A$1 billion (US$1.04 billion) new June 2016 benchmark syndicated transaction on November 1. This is the third syndicated issue from WATC this year, following its A$1 billion (US$1.04 billion) July 2017 notes priced in May 2012 and A$200 million June 2016 notes priced in June 2012.

DBNGP Finance (DBP) has priced A$300 million October 2019 MTN, to refinance the firm's remaining A$170 million April 2013 bonds and other "higher priced debt facilities".

The Australian Central Credit Union's (ACCU's) Light Trust No. 4 upsized to A$450 million upon pricing November 2. Preliminary ratings were assigned on November 1 to the transaction of prime residential mortgage-backed securities (RMBS) originated by the Australian Central Credit Union (ACCU) with an initial volume of A$400 million. The securitisation, Light Trust No. 4, is a closed portfolio with no further loans assigned after the closing date, and QBE Lenders Mortgage Insurance will provide 100 per cent of the LMI cover to the pool.

The South Australian Government Financing Authority (AA/Aa1/AA+) (SAFA) has announced a plan to increase its A$1.294 billion (US$1.348 billion) 5 per cent May 20 2021 bond line by A$750 million in November 2012. 

A wave of significant changes to the global UBS Investment Bank (UBS) business that are the basis of an expected 10,000 reduction in headcount do not affect the Australian operation, the bank says. A spokesperson tells KangaNews the Australian business is already structured in line with global goals, so moves which already include the shuttering of UBS's supranational, sovereign and agency (SSA) business in London do not necessitate changes locally.

On November 1, Export Development Canada (EDC) (AAA/Aaa) increased its A$750 million (US$778 million) 3.25 per cent Kangaroo line maturing in August 2017 by A$250 million.

Suncorp-Metway (Suncorp) priced A$600 million new five-year benchmark covered bond transaction on November 1 2012. This is the second covered bond issue from Suncorp, following its A$1.6 billion (US$1.66 billion) dual-tranche issue priced in May 2012, which included A$1.1 billion notes maturing in December 2016 and A$500 million notes maturing in December 2014.

On November 1 Kiwibank (A+/Aa3) announced it is preparing the offer of up to NZ$150 million (US$123 million) of subordinated notes that will be structured to be recognised as T2 regulatory capital. Craigs Investment Partners is acting as arranger, and along with Kiwibank is also joint lead manager on the deal.