ANZ bullish on covered bond prospects following debut issue
ANZ Banking Group (ANZ) became the first Australian major bank to issue a covered bond on November 15, taking US$1.25 billion in the US market. The bank's Melbourne-based head of group funding, Luke Davidson, exclusively tells KangaNews that the bank expects to build up a number of offshore covered bond programmes in the wake of strong demand for the debut transaction.Capital Finance completes another auto loan securitisation [UPDATED]
Capital Finance Australia issued a new asset-backed security based on a pool of auto loans on November 17. Bella Trust Series 2011-3 has a volume of A$568.3 million (US$559.2 million) spread across seven tranches, the top four of which have secured investment-grade ratings from Moody's Investors Service and Fitch Ratings.VW Australia prices new 2014 with A$50 million upsize
Volkswagen Financial Services Australia (VW Australia) (A-/A3) priced a new three-year fixed rate domestic bond on November 16. The deal's volume was increased by A$50 million (US$50.7 million) from its minimum size at launch of A$100 million, with pricing matching its indicative margin of 135 basis points over mid-swap.RBA facility fee could cost biggest banks A$100 million-plus per year
Authorised deposit-taking institutions (ADIs) will pay an annual fee of 15 basis points for committed liquidity facilities (CLFs) provided by the Reserve Bank of Australia (RBA) under new liquidity rules set to be implemented from the start of 2015. The Australian Prudential Regulation Authority (APRA) also suggests its reluctance to allow banks to rely on CLFs to supplement their liquid assets pools could – in the longer term – allow a widening of its list of first-order liquid securities.