ANZ prices longest Aussie dollar covered bond ever
Australia and New Zealand Bank (ANZ) issued an A$700m ($639m) 10 year covered bond last Thursday night in what was the longest-ever maturity for the asset class in that currency. Even though large parts of the Asian market were on holiday, the trade attracted far greater interest than had been expected and priced at tighter levels than could have been achieved in euros.
After identifying reverse enquiry interest following the sale of its A$1.75bn four year senior unsecured deal that had been priced on Thursday, ANZ, the sole lead manager, spotted an opportunity to issue a 10 year A$ covered bond.
“We went out with a minimum of A$250m deal but
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