insto - Australian financial markets

Toyota Finance Australia (rated AA/Aa1) launched and priced a two tranche Uridashi on 26 June. The deal comprised 2-year A$415 million and 2-year NZ$400 million notes. The lead manager for both tranches was Daiwa. The bonds, described as "plain vanilla" structure, were sold to Japanese retail clients.

Japanese investment grade debt offerings this week totaled US$7.2 billion in proceeds from 18 issues, the third largest week ever for this activity.  Large issues included US$1.1 billion from Mitsubishi UFJ Trust & Banking, US$1.8 billion from two offers by Nippon Telegraph and Telephone, and US$729.8 million from Honda Motor.   Investment grade volume for Japan so far this year totals US$67.6 billion from 176 offerings, a 15 per cent increase over the same period in 2008 when volume was US$58.9 billion, and the biggest year-to-date start on record.

The volume of Japanese target M&A for year-to-date 2009 totals $26.1 billion, a decrease of 12 per cent compared to last year at this time, reports Thomson Reuters.

Sumitomo Mitsui Banking Corporation, Sydney Branch has completed a A$200 million domestic debut via nabCapital. The issue follows a recently completed roadshow.