Last week was a week of private placements in credit markets as conditions remained subdued. Public issuance was restricted to Province of Ontario issuing new ten-year bonds and Kommunalbanken tapping its July 2025 line.Privately however, Westpac (rated AA-), Suncorp (A+), Police Bank (BBB+) and Greater Building Society (BBB) all issued bonds.Westpac raised A$40 million for one year at a spread of 22 basis points over bank bills, while Suncorp raised five-year funds at a spread of 94 bps over bills. Police Bank made its market debut with its newly minted ratings from Fitch Ratings and Standard & Poor's, raising $20 million for two years, priced at 110 bps over bank bills. Greater Building Society sold $30 million of one-year floating rates notes, priced at 65 bps over. ANZ New Zealand (AA-) sold NZ$100 million of two-year floating rate notes at a spread of 38 bps over bank bills.