Australia and New Zealand Banking Group (ANZ) and National Australia Bank (NAB) opened the international markets for Australian borrowers with a bang this week, raising a combined $4.75bn in two well-received bond issues.
NAB was first out of the door, raising $1.75bn from a three year deal on Monday. HSBC and Merrill Lynch arranged the deal, split between a $1.25bn fixed rate tranche paying a 2.5% coupon to yield 87.5bp over Treasuries at the tight end of guidance set between
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