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Toyota Finance Australia says executing at the very start of the year was a key aspect of its return to the euro market after an almost two-year hiatus, as it aimed to price before deal flow picks up in the weeks ahead. The issuer priced €1.15 billion (US$1.3 billion) of three- and six-year bonds on 5 January, a notably early start for Australian corporate issuance.
National Australia Bank returned to the offshore term funding market at the start of the year after electing to stand back from more turbulent markets in Q4 2021. The bank says positive results in the sterling covered-bond and US dollar markets further demonstrates a constructive new-issuance environment.
Commonwealth Bank of Australia has set a wider new-year pricing benchmark in the Australian dollar market but was rewarded for its willingness to meet the market on price with a jumbo book and record final volume. The issuer says the print reflects a constructive tone in the local market and that regulatory change has not negatively affected Australian dollar demand.