In the structured finance sector we may have seen the first non-AOFM backed transaction for the year; but then there could have been other private placements that we are not aware of. Resimac privately placed $30 million of NIM bonds issued via RESIMAC NIM Master Trust Series 2009-1. The issue was effectively a refinancing of an April 2006, $40 million issue of NIM bonds. Two 'A' rated tranches were issued at $24 million and $6 million with weighted average lives of 0.92 and 2.04 years, respectively.We may also be about to see the first non-AOFM backed public transaction for the year too. Reuters reported on Friday that Macquarie has been sounding out investors about a car loan receivables backed ABS issue under its SMART program.Members Equity launched its second AOFM backed RMBS issue via SMHL Securitisation Fund 2009-1. The four tranche issue will raise a total of $630 million and comprises: $158.45 million of Class A1, AAA/AAA rated notes with a weighted average life of 0.54 years; $441.31 million of Class A2, AAA/AAA rated notes with a WAL of 3.73 years; $15.12 million of Class A3, AAA rated notes, with a WAL of 7.85 years; and $15.12 million of Class B, AA- rated notes, with a WAL of 7.85 years.    Among government and semi-government issuers, NSW Treasury Corporation added $150 million of capital indexed bonds to its November 2035 line, as flagged last week. The bonds were priced to yield 3.0 per cent real. According to Reuters, TCorp will add another $100 million to its 2025 capital indexed line on May 20.On Wednesday, AOFM sold $750 million of April 2020 Commonwealth Bank with $50 million of the long dated bonds being taken up by the RBA. The average yield was 4.68 per cent and the issue was 2.9 times oversubscribed. Again proving the popularity of very short dated bonds, AOFM's offer of $700 million of August 2010 CGS on Friday, was oversubscribed 5.5 times. The average yield on the bonds was 2.68 per cent.Similar to AOFM, the New Zealand Debt Management Office has been undertaking weekly bond tenders since January 15, following the New Zealand Government's announcement last December that its 2008/09 domestic bond program would be increased by NZ$500 million to NZ$4.5 billion and was projected to increase to NZ$7.5 billion in 2009/10, NZ$11.2 billion in 2010/11, NZ$15.0 billion in 2011/12 and NZ$15.9 billion in 2012/13.On Friday the NZDMO sold NZ$50 million each of November 2011, April 2013 and December 2017 bonds at average yields of 3.52 per cent, 4.27 per cent and 5.33 per cent, respectively. The issues were oversubscribed by 2.2, 6, and 3.2 times, respectively.Rabobank Nederland has limited its hybrid Tier 1 PIE security issue in New Zealand to NZ$330 million and set the margin that will be paid over the five-year swap rate at 375 basis points. When mentioned here two weeks ago the issue size was specified as being a minimum of NZ$200 million.Lastly, S&P assigned a 'BBB+' rating to Vector Ltd's planned NZ$100