Market solutions opening RMBS market in UK 26 October 2009 5:22PM The penultimate AOFM backed RMBS issue, under the original A$8 billion allocated for this purpose, priced during the week. read more
IAG tidies up contingent capital 26 October 2009 5:21PM Insurance Australia Group proposed on Friday a restructure of its A$550 million of Reset Exchangeable Securities (RES) issued by its New Zealand subsidiary in 2005. Described as contingent capital, IA.. read more
Solid demand for TCorp bonds 26 October 2009 5:21PM In other domestic market activity, NSW Treasury Corp received A$2.9 million of bids for a new June 2020 benchmark bond. TCorp sold A$1.5 billion of the bonds, which will be guaranteed by the Commonwea.. read more
144As, EMTNs, Reg Ds and Uridashis 26 October 2009 5:20PM Offshore, Westpac raised US$1.0 billion for two years in the US s144A market, at a spread of 30 basis points over Libor and the Australian branch of Rabobank made two more additions to outstanding EMT.. read more
Moody's rethinks bank ratings again 26 October 2009 5:19PM Moody's hasn't had much luck in recent years with the methodology and underlying supporting assumptions that it has used to assign credit ratings to banks. We mentioned in an earlier article today the.. read more
Corporate defaults continuing to rise 26 October 2009 5:18PM While the financial markets are upbeat about the rapid improvement in financial asset values, investor demand and secondary market liquidity, the real economy is still dealing with the fall-out from t.. read more
CDS big movers 26 October 2009 5:18PM In the CDS market, Markit reported that Dutch bank SNS Bank enjoyed a spread contraction of 40 basis points in its five-year senior CDS to 157 bps, making it one of the best performers on Wednesday. T.. read more
Lion Nathan equalised and more on NZ finance companies 26 October 2009 5:17PM Lion Nathan has had its long-term credit rating from Moody's equalised with that assigned to its parent, Kirin Holdings Company Limited, at 'A2' with a stable outlook. This completes the review commen.. read more
Opportunities and pitfalls in a retail bond market 19 October 2009 5:58PM The front page of Friday's Australian Financial Review carried an article on the proposals from Treasury and ASIC to foster the retail corporate bond market. The plans reportedly centre around providi.. read more
Pooled bonds not a bad idea 19 October 2009 5:57PM On the subject of diversified bond portfolios, it is worth mentioning that recent academic research has shown that the highly skewed return profile of corporate credit risk requires a portfolio of aro.. read more