ASB Bank completes debut covered bond via private placement
Fitch Ratings and Moody's Investors Service assigned definitive triple-A ratings to ASB Bank's (Aa3/AA) inaugural NZ$300 million (US$227.6 million) covered bond transaction on December 19. All four major banks in New Zealand have now issued covered bonds, with the latest deal coming in the form of a private placement.CommBank returns to Samurai market as Japanese investors keep faith in Australia
Commonwealth Bank of Australia (CommBank) (AA-/Aa2/AA) priced its second Samurai transaction of 2011 on December 16. The ¥50 billion (US$642 million) five-year deal has a coupon of 1.27 per cent and achieved a margin of 75 basis points over yen swap – which proved favourable for investors, according to the leads.