Six banks chief users of the guarantee 01 April 2010 5:49PM It was the four major banks and Macquarie that were the significant beneficiaries, to the extent of $116 billion, on our figures for wholesale bond issuance (including extendible CP issuance). This.. read more
No preference among Strategic investors 29 March 2010 5:49PM Two weeks after Strategic Finance fell into receivership its receivers, PricewaterhouseCoopers, are applying to delist the company's shares after confirming no amount will be available to pay prefer.. read more
BHP CDS spreads out of line 29 March 2010 5:48PM How to price credit risk, of course, raises the question of what pricing BHP Billiton could achieve, if it does decide to undertake a domestic bond issue. One possible benchmark is the current sprea.. read more
Relative value out of line on corporate debt 29 March 2010 5:48PM Markets seem unable to put a consistent and logical price on credit risk at the present time. This is true of the domestic market, although less so, and of offshore markets. read more
Weak coverage of US Treasury auctions 29 March 2010 5:47PM Investor resistance mounted last week as the US Treasury sold US$118 billion of bonds in three separate auctions. The bid-cover ratios were weak, with Thursday's auction seeing the bid-cover ratio a.. read more
Brambles goes to US s144A market 29 March 2010 5:46PM Offshore, Brambles finally put its newly acquired 'BBB+/Baa1' credit ratings to work and, as expected, it issued bonds in the US s144A market. Brambles accounts in US dollars, so a US dollar issue w.. read more
12-month bond issuance at A$108 billion 29 March 2010 5:46PM With a couple more days remaining until the end of the month, March 2010 has set a new record for monthly issuance volume in the domestic corporate bond market. The total for March now stands at A$1.. read more
IMB follows BankWest in mortgage-backeds 29 March 2010 5:45PM March has also been a strong month for structured finance issuance and RMBS, in particular. BankWest priced its Series 2010-1 Swan Trust RMBS issue, which was capped at A$620 million and IMB Limited.. read more
Warehouse full 29 March 2010 5:44PM New Zealand's The Warehouse Group announced last week that it had completed the bookbuild on its NZ$100 million retail bond issue, with the offering being more than two times over subscribed. As a r.. read more
Second round for ALE 29 March 2010 5:44PM Pub landlord ALE Property Group advised of its intention to issue A$100 million of ALE Notes 2. There is already an issue of ALE Notes listed on the ASX that is due to mature in September 2011. read more