ANZ issues tightest Australian covered bond in euros

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By Bill Thornhill
13 Nov 2014

Australia and New Zealand Bank on Wednesday issued the tightest ever deal issued by an Australian bank in euros. The five year bond nevertheless offered a decent pick-up to where covered bonds issued by eurozone banks have been priced, and to the issuer’s curve.

Until Wednesday the tightest deal issued by an Australian bank in covered bonds was set by Commonwealth Bank of Australia which, on October 14, priced a €1bn seven year at 7bp over mid swaps.

But the European Central Bank’s covered bond purchase programme (CBPP3) has led to a ...

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