NAB finds certainty in dollars, Westpac hits euros

Bill Thornhill

November 27, 2018 01:00 pm

Westpac_AP_230x150 — A name plaque is attached to a Westpac branch in Sydney, Australia, Friday, May 3, 2013. Westpac Banking Corp., one of Australia's largest banks, posted an 11 percent rise in half-year profit on Friday to 3.3 billion Australian dollars ($3.4 billion) as it pursued growth opportunities. (AP Photo/Rick Rycroft) | Rick Rycroft/AP

National Australia Bank (NAB) was looking for execution certainty when heading to the dollar market to sell a pair of senior unsecured and covered bonds on Monday. But with credit conditions improving on Tuesday, Westpac shaved a few basis points off the cost of funding compared with its peer by opting for euros in covered and senior formats.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request a Free Trial or Login

Topics

National Australia Bank Asia Pacific Oceania Westpac Europe Australia EMEA FIG Covered Bonds

BT

Bill Thornhill