The last time Australian Prime Property Fund Retail (rated A+) was in the market was July 2009, when it issued A$250 million of three-year bonds priced at 340 basis points over swap. Last week APPF was back, raising $350 million in three tranches with maturities ranging up to 10 years. It didn't pay anywhere near 340 basis points over swap.The $160 million, five-year tranche was priced at 155 basis points over swap and the $150 million, seven-year tranche was priced at 180 points over swap, and there was also an unexpected $40 million, 10-year tranche, priced at 200 points over swap. Asian Development Bank (rated AAA) sold $500 million of four-year bonds, priced at a surprising 14 basis points over swap. The pricing also equated to a spread of 63.75 basis points over Commonwealth government securities and a yield of just 3.2 per cent a year.ADB achieved a spread of just five basis points over swap when it raised three-year funds in May last year, but that was just before conditions in the financial markets turned bearish once more. What a contrast to 1998/9, when SSA (supranational, sovereign and agency) issuers first appeared in the domestic market and achieved sub-swap pricing.DBNGP Finance (rated BBB-) launched a minimum $150 million, seven-year bond issue with indicative pricing of 270 basis points over swap. DBNGP Finance last issued in September 2010, when it raised $550 million for five years, priced at 300 points over swap.DBNGP Finance priced $300 million of bonds on Friday. The coupon will step up by 75 basis points for each rating downgrade below BB+/Ba1 from S&P or Moody's, respectively.Suncorp-Metway (rated A+) has been particularly prominent in the domestic market this year with seven issues or top-ups. The latest was last week, with the bank completing its second sale of covered bonds in the domestic market.    The bank sold $600 million of covered bonds, against bids of more than $1 billion, in what was an unplanned surprise issue, driven by reverse inquiry. The five-year covered bonds were launched at 100 basis points over swap and priced at 90 points over mid-swap. This pricing is considerably tighter than the 105 points and 140 points the bank paid for the 2.5 year and 4.5 year covered bonds issued in May. However, the spread on these bonds has now contracted to 68 points and 93 points, respectively, in the secondary market. The spread on the 4.5-year bond was at 103 points before the new issue was launched. Further spread contraction is now likely.After raising A$750 million for five years in July, Export Development Canada (rated AAA) returned to add another $250 million to the line. The increase was priced at commonwealth securities plus 67.25 bps, to yield 3.335 per cent per annum. This is marginally cheaper than the 3.46 per cent yield on the original bonds. Lastly, Australian Central Credit Union launched its fourth prime RMBS issue, and its first since November 2010, on Friday. The Class A1, AB and B1 notes have