Australian banks sold a record $10bn in privately placed euro MTNs in July as investors sought non-eurozone bank debt. The big four Australian commercial banks — Commonwealth Bank of Australia, ANZ Bank, National Australia Bank, Westpac — were able to take advantage of the demand.
"They are all double-A rated and there is an appeal because of the distance from Europe," said an MTN dealer.
Asian investors had been particularly keen to get exposure to Australian lenders, dealers said. Macquarie Bank has been able to print a record $639.2m in yen-denominated MTNs over the