Six banks chief users of the guarantee

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

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

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

Weak coverage of US Treasury auctions

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

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

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

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

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

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