BofA and Credit Suisse spurn Aussie balance sheets for private bank demand
Bank of America Corp and Credit Suisse issued Australian dollar deals in formats that Australian liquidity book investors are unlikely to buy on Monday and Tuesday, marking a turn to demand from private banks and fund managers for offshore bank issuers.
BofA issued A$1.2bn of three year Kangaroo bonds on Tuesday, which are not repo-eligible at the Reserve Bank of Australia, because the bonds are not from a domestic subsidiary.
Credit Suisse (Sydney) issued A$600m of five year FRN bonds on Monday, which are repo-eligible, but too long for most
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