UBS takes early 2009 league table lead
In the first KangaNews league tables for 2009 UBS has taken a commanding lead over the field in volume of transactions excluding self-led deals, with its figure of A$2.05 billion (US$1.32 billion). The Swiss bank’s highlights include acting as joint lead manager on ANZ Banking Group (ANZ)’s A$2.6 billion 2014 benchmark and Bank of Queensland’s A$500 million 2011 trade.More corporates in NZ but guarantee fee slashed as takeup lags
The retail deal pipeline remains strong in New Zealand at the start of 2009 with market participants anticipating strong demand for the transaction Fonterra (A+/AA-) announced at the end of last year and a number of additional deals in the offing, including a possible return to the hybrid market by Bank of New Zealand (AA/Aa2) (BNZ).TD pulls plug on Australian origination, sales and trading
TD Securities (TD) will no longer have an origination, sales or trading facility in Sydney as the bank has revealed all these functions will be moved to Singapore "in the coming weeks". The firm has yet to confirm details of staffing changes or how the new setup will be structured, but market sources have cast doubt in its ability to maintain its origination performance in Australia with no local facility.
Quieter issuance week following early guarantee frenzy
The flood of government-guaranteed issuance from Australian banks has slowed in recent days, with just under US$1 billion equivalent priced in the week ending January 23 – down from US$5.08 billion the week before and US$12.41 billion in the first week of the new year.BOQ is first triple-B guaranteed issuer in Australia
Demand for Australian government guaranteed bonds continued on January 20 as Bank of Queensland (BBB+/A2/BBB) (BOQ) became the first triple-B rated issuer to price a deal under the sovereign scheme, bringing A$500 million (US$331.15 million) of 2011 paper to its home market.