With issuance since the start of the year amounting to just A$4.7 billion, January 2014 is on track to be the quietest start to a year since 2007 in the domestic corporate bond market. Issuance in January 2007 totalled just A$2.95 billion. It was the precursor to a terrible year.The Australian branch of Rabobank (rated AA-) was the only provider of any reasonable volume last week. The bank sold A$600 million of five-year, floating rate notes, priced at 105 basis points over bank bills.Kommunalbanken (rated AAA) tapped two lines, making it the most prolific issuer so far this year, with two taps and two new lines.Early in the week, Kommunalbanken added another A$200 million to its new July 2024 line, to take outstandings to $350 million. A marginal improvement in pricing was achieved at 98.75 bps over Commonwealth government securities.On Friday, the bank added another A$100 million to its April 2023 line, priced at Commonwealth bonds plus 97.5 bps. The increase takes the volume outstanding to $550 million.Kommunalbanken also made its first appearance for the year in New Zealand, adding NZ$200 million to its December 2017 line. The increase takes outstandings to NZ$500 million and was priced at 69.4 bps over New Zealand government bonds.Eurofima (rated AA+) returned to the market for the first time since Standard & Poor's stripped it of its AAA rating just on a year ago. Fortunately for Eurofima, Moody's Investor Service still assigns it an Aaa rating and this seems to have been reflected in the pricing of the new bonds.Rentenbank (rated AAA) returned to add A$100 million to its April 2024 line. The increase was priced at 74.75 bps over CGS and takes the volume outstanding to A$775 million.Lastly, GE Capital Funding (rated AA+) saw out the week with a A$250 million issue of September 2020 bonds. The bonds were priced at 97 bps over swap.Earlier in the week, GE Capital Australia Funding sold A$150 million of July 2018 bonds in the Euromarket. The bonds will pay 70 bps over swap.