Offshore banks topping league tables outside self-led
Three offshore banking names top KangaNews's league tables for Australian deals excluding self-led transactions, with HSBC Australia's position on the top line of the recent record-sized deal from Westpac Banking Corporation (Westpac) catapulting it to the top of the heap with A$2.24 billion (US$1.48 billion) of deal volume.
BNZ drops wholesale guarantee for latest five-year
Bank of New Zealand (AA/Aa2) (BNZ) launched New Zealand’s first bank deal not backed by the local wholesale guarantee since November last year on March 18, offering NZ$50 million (US$26.47 million) of five-year paper covered by the retail guarantee at a slight premium to its recent similar tenor deals with full sovereign backing.BEN RMBS prices just inside CUA deal
The residential mortgage backed security (RMBS) transaction brought to market by Bendigo and Adelaide Bank (BEN) priced on March 13 at slightly tighter levels than a similar transaction from Credit Union Australia (CUA) that priced four days earlier. Both deals saw cornerstone investment from the Australian Office of Financial Management (AOFM).
Leads hope Australia Post will prelude greater corporate and unguaranteed markets
Australia Post (AAA) became the latest issuer to test the market for unguaranteed securities in Australia, launching a five-year bond on March 18 which sources close to the deal say was attracting significant investor interest prior to launch from a wide number and range of accounts.