ANZ
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National Australia Bank has mandated leads for the first Australian covered bond in euros for over two years. With redemptions outstripping supply this month, the NAB deal could be the beginning of a spurt of issuance. -
Rabobank ended a two year absence from the Kiwi dollar market this week to raise short dated liquidity. Meanwhile, in the Australian market, credit issuance is picking up ahead of the end of the local financial year.
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ANZ has appointed Niro Somasekeran as head of corporate finance for south and southeast Asia.
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ANZ plans further diversification of its total loss-absorbing capacity (TLAC) eligible debt following the issuance of the first sterling tier two from an Aussie bank in over 13 years, with other niche markets in the bank’s crosshairs. However, sub debt is not the only thing on the bank’s menu, as it anticipates a return to senior funding later this year.
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A pair of globally systematically important banks (G-SIBs) made rare visits to niche bond markets to raise senior debt at a group level this week, including a Canadian dollar market that is enjoying its busiest year for offshore financials since 2007.
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ANZ dropped into the sterling market this week in search of tier two paper, which will help it meet its total loss-absorbing capacity (TLAC) requirements. With the TLAC deadline fast approaching, Australian firms are expected to make use of the attractive funding conditions to ramp up their subordinated issuance.
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ANZ was the latest name to throw its hat into the sterling subordinated ring as it ended a nine year absence from the currency with a new tier two capital issue.
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Indian company Tata Motors' subsidiary TML Holdings has printed its largest dollar bond so far, raising $425m at a low yield.
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HSBC raised A$500m ($388m) on its return to the Australian dollar bond market on Thursday, securing a "fantastic" result by offering a pick-up over local bank bonds.
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Chinese state-owned Sinochem Group, an oil and chemicals company, has returned to the loan market after one year for a $500m deal.
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Guandong Haid Group Co and Shenzhen Yuto Packaging Technology Co are both making their debuts in the loan market.
