Contact Energy closed on Friday, the retail bond issue that it opened on Monday, after raising NZ$550 million. The issue was launched at $300 million with oversubscriptions to be accepted. The five year, senior unsecured bonds, will pay an eight per cent coupon. Contact Energy is rated 'BBB' by S&P.   The first AOFM backed RMBS issue for 2009 was priced on Friday but no details have been released on investor participation. The $105 million Class AS tranche, with a 0.4 year weighted average life, priced at 100 basis points over bank bills and the $350 million Class A1 tranche, with a 3.6 year WAL, priced at 140 bps over. No pricing was disclosed for the Class A2 or B tranches. Pricing was in line with that seen on other AOFM backed deals late last year.The next mortgage-backed bond backed by the Australian Office of Financial Managemnent was announced during the week. Bendigo and Adelaide Bank will issue $559 million of RMBS via TORRENS 2009-1 Trust. The three tranche issue will comprise: $50 million of Triple A rated, Class A1 notes; $475 million of triple A rated, Class A2 notes; and $34 million of unrated Class B notes. Unusually, this mortgage pool comprises 74 per cent of non-metropolitan mortgages but this is "offset" by average seasoning of more than four years. Issuance is expected this week.AOFM sold $600 million of April 2012 Commonwealth government bonds at an average yield of 3.3 per cent, with the issue 3.9 times over subscribed, on Wednesday; and on Friday, it sold $598 million of June 2014 bonds at an average yield of 3.72 per cent, with the issue 3.1 times over subscribed.Westpac has positioned itself to be the next to tap the Uridashi market, registering in Japan its intent to issue Australian dollar denominated bonds on March 26. The volume of issuance has not been specified but the coupon range has been given as 3 per cent to 4.3 per cent for a bond that will have a three year term to maturity. No other details are available at the moment. However, Westpac may find that timing has gone against it. ANZ raised $43 million in the Uridashi market the week before last and it may have just got in, in time. The Japanese yen basis swap is moving in the wrong direction again, making issuance cost prohibitive.