Dearth of supply allows Wells’ rare Kanga to price tight

By Jonathan Breen
07 Aug 2014

Wells Fargo made a rare visit to the Australian dollar market with a A$900m dual-trancher, pricing close to the leading Australian banks' bonds.

A lack of paper in the market meant the issuer was able to price around 3bp wider than a similar tenor from ANZ Bank last month — according to a syndicate banker away from the deal.

“There hasn’t been much supply this year from banks or corporates, which ...

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