Reuters reported that Brambles raised US$110 million in the traditional or Reg D private placement market in the United States. Brambles is not rated but has a NAIC-2 rating for this market, which roughly equates to a triple-B credit rating. Brambles raised US$35 million for five years, US$55 million for seven years and US$20 million for ten years. All tranches were priced at 550 bps over US Treasuries. This compares well with Woodside's margin of more than 600 bps over Treasuries, for five- and ten-year funds in the s144A market, in late February.The Australian branch of Rabobank opened a new Australian dollar line under its euro medium-term note program, raising $100 million with an April 2014 maturity.Back home, the Australian Office of Financial Management sold $700 million of May 2021 CGS at an average yield of 4.87 per cent. The issue was 3.4 times oversubscribed.AMP Notes commenced trading on a deferred settlement basis on the ASX and the NZDX on Thursday. AMP sold $202.9 million and NZ$115.5 million of notes to raise a total of $296 million. The initial coupon on the Australian notes was set at 7.88 per cent while the New Zealand notes will pay 9.8 per cent for the next five years. Retail investors took up 95 per cent of the issue.Retail investors are also going to be the target of the Australian government's infrastructure bonds, which will be issued to help fund the new national broadband network. The government surprised the market with the announcement of the $43 billion network last week. The government intends to use $4.7 billion, taken from the $20 billion Building Australia Fund, as seed capital, with the remainder of the funding coming from private sector partners in the project and the issuance of infrastructure bonds.AOFM CEO, Neil Hyden, said he anticipates $8 billion to $9 billion of infrastructure bonds will be issued over several years, some with maturities of up to 30 years. The bonds will be the same as regular CGS with no tax benefits or structural features and therefore should be sold with comparable yields. No doubt there will be demand from institutional investors for such bonds. The bonds should also be an attractive asset class for self-managed superannuation funds, as the bonds will provide a sound annuity income stream, particularly if they are inflation linked. However, for other retail investors their appeal may be limited, especially if more corporate bond issuance is targeted at this sector, as expected.