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Another slow issuance week sees little movement in KangaNews's intermediary league tables, with the most significant change coming in New Zealand. Although just a single new transaction priced in the week ending August 19, the NZ$200 million (US$163.3 million) placed by Rabobank Nederland New Zealand Branch (AAA/Aaa) is enough to take its sole lead, ANZ, to the top of the New Zealand domestic league table.

Z Energy (NR) (formerly Greenstone Energy) closed its retail bond offering on August 5, pricing NZ$150 million (US$123 million) of retail bonds - NZ$50 millin more than the initial target. The company says the funds will be used to pay down bank debt and provide a more flexible corporate funding structure.

On September 29 Air New Zealand (Baa3, negative outlook) issued its debut transaction in the New Zealand domestic bond market. The NZ$150 million (US$114.9 million) bonds have a coupon of 6.9 per cent and a maturity of November 2016. The offer opened on September 5 and closed on September 23.

New South Wales Treasury Corporation (TCorp) (AAA/Aaa/AAA) issued its second public domestic deal of the week on August 18, adding A$100 million (US$104.9 million) to its November 2025 outstanding inflation-linked bond via tender. The deal was five times oversubscribed, according to the issuer.
The Australasian markets experienced some activity this week, but as to be expected all issuance came from the high-grade sector. In New Zealand Rabobank Nederland NZ Branch (AAA/Aaa) issued a new two-tranche August 2015 bond, while in Australia all new-issuance activity came from the sovereign/semi-government sector. 
New South Wales Treasury Corporation (TCorp) (AAA/Aaa/AAA) issued the first Australian public deal in nearly two weeks on August 16, taking A$810 million (US$848.6 million) in a new March 2022 bookbuilt line. According to the issuer, the deal was entirely placed with domestic investors given the short window between launch and pricing.
A silent week for syndicated domestic bond issuance on both sides of the Tasman leaves KangaNews's intermediary league tables unchanged on August 15. In both Australia and New Zealand, the aggregate league tables for all deal flow – including offshore issuers in the domestic market and self-led deals – see ANZ holding first place ahead of domestic competitors.
Global volatility put the Australasian markets on virtual hold this week. There has been no primary credit issuance from local names on- or offshore, although New South Wales Treasury Corporation announced plans to tender inflation-linked bonds on August 18. The most recent Australian domestic credit deal priced on August 2 while the Kangaroo primary market has been silent since August 4.