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Investec Bank Australia returned to the asset-backed securities (ABS) market with its first transaction of the year on September 14, pricing the Impala Trust No 1 Sub-series 2012-1. The deal is backed by a range of auto and equipment receivables from health and accounting industry professionals, totalling A$232.53 million (US$246.04 million).

On September 10, the New Zealand Debt Management Office (NZDMO) reconfirmed the three intermediary banks who will act as joint leads on its long-awaited return to the inflation-linked bond market. However, while revealing that the next linker to be issued by the New Zealand sovereign is "likely to have" a maturity date of September 20 2025, the debt management agency also said it will not issue prior to October 1 this year.

Expected ratings were assigned by two agencies to ME Bank's second residential mortgage-backed securities (RMBS) transaction of 2012 on September 10. The forthcoming issue, SMHL Securitisation Fund 2012-2, comprises five rated tranches by Standard and Poor's Rating Services (S&P), and three rated and two unrated tranches by Fitch Ratings (Fitch), all denominated in Australian dollars, with aggregate volume of A$500 million (US$518.6 million).

The first week of September was somewhat subdued with only one domestic corporate deal priced. Commonwealth Bank of Australia also launched its Perls VI tier one hybrid which will be priced next week. ANZ Banking Group went to the US market, raising US$3 billion through a dual-tranche US$2.25 billion 3-year covered bonds issue and another US$750 million 5-year senior tranche.

On September 5, ANZ Banking Group (ANZ) (AA-/Aa2/AA-) successfully raised US$3 billion through a three-tranche deal – featuring senior unsecured and covered bonds – supported by an oversubscribed total order book of US$4.5 billion. The issuer says the size of the transaction allows the bank to meet part of its 2013 funding requirements before the end of the current financial year.

In an environment of limited domestic corporate supply, Transpower New Zealand (Transpower) (AA-/A1) upsized its senior notes issue, in two tranches, to NZ$300 million (US$240.3 million) from NZ$200 million at launch. The company also priced both tranches at the tight end of indicative margins on September 3, on the back of what the leads describe as strong institutional demand.

DEXUS Finance (DEXUS) (BBB+/Baa1) has priced a new A$100 million (US$102.7 million), six-year fixed rate transaction at a margin of 245 basis points area over swap. The deal, joint led by ANZ, National Australia Bank (NAB) and Westpac Institutional Bank, priced on the same day as the launch – September 3.

Commonwealth Bank of Australia (CommBank) has announced the final margin for its tier one hybrid, Perls VI, at 380 basis points over bank bill swap rate. The offer was upsized to A$1.5 billion (US$1.57 billion) from its original projection of A$750 million. CommBank is the last of the big four banks to offer a retail deal under its own name in 2012, and lodged a prospectus for Perls IV on the Australian Securities Exchange (ASX) on September 3.

ANZ National Bank (ANZ National) (AA-/Aa3/AA-) launched a new five-year transaction in the domestic retail market on September 3, announcing its plans to place at least NZ$200 million (US$160.1 million) via the fixed-rate, self-led deal. The bank's previous public domestic deal came in March this year, when it sold NZ$250 million of seven-year notes.

On August 31, Silver Chef (NR) priced a six-year senior unsecured fixed rate notes issue for total volume of A$30 million (US$30.9 million). FIIG Securities arranged the deal, which according to KangaNews data makes it the first public, senior unsecured bond bookbuild to be conducted in the Australian domestic market without a bank lead manager.