Guarantor: Rabobank Nederland
Amount: A$50m (fungible with A$100m issue launched 08/09/04)
Maturity: October 6, 2009
Issue price: 101.715
Launched: Tuesday September 28
Joint books: Rabobank, TD Securities
TD ? There was specific demand for this increase, it was based on lead orders and strong demand for the name and the currency allowed us to increase this transaction. Rabobank had a lead order and where it has usually been joint lead, here they have joint books.
We saw demand out of Switzerland and Benelux and know that demand for Australian dollar product remains extremely strong. The increase is really just so we have some bonds left on the books to retail out over time to the same geographic base.
Rabo is recognised as a top retail name and this is a tried and tested formula. We are not the only house seeing demand ? the Aussie dollar is in favour all round at the moment.
This is a tap of the earlier deal. The original tranche was done two weeks ago.