On December 15, Stockland Trust Management (Stockland) (A-) issued a A$300 million (US$272 million) fixed rate February 2015 bond after finalising the buyback of A$175 million of outstanding paper from its June 2011 line. It is understood that there was a narrow window of opportunity for the deal to be completed before the holiday slowdown, with deal sources confirming the buyback component of the transaction made it a likely candidate to be successful in this small timeframe.