OCBC Sydney takes A$500 million in Australian debut [UPDATED]
In what was the second Australian branch of an Asian bank to debut in the Australian market inside a week, Overseas-Chinese Banking Corporation Sydney Branch (OCBC Sydney) priced a new A$500 million (US$537.5 million) floating rate transaction on July 7 at 83 basis points over the bank bill swap rate (BBSW).
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Fortescue eyeing debt market return and rapid accession to investment grade
Despite heavy borrowing in both bond and loan format since 2010, Fortescue Metals Group (Fortescue) (B+/B1/BB+) says it is likely to return to the debt market this year. However, while the company has yet to determine what market it will access, it has also suggested that the structure of group revenues means its focus will remain on US dollar funding rather than Australian dollars or the burgeoning renminbi market.
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