Asia Pacific

Where do investors look when JGBs and USTs are no longer reliable?

◆ Aussie bank tightened 9bp through execution ◆ Deal more than six times oversubscribed ◆ Bank's last euro covered was in September 2023

◆ Australian bank planning €500m covered ◆ Issuer's first euro deal since September 2023 ◆ Barclays, Natixis and UBS are lead managers

Originator hired to go after bank bond issues in euros and dollars

◆ Largest book of the week for a euro tier two ◆ Priced flat to fair value ◆ 'Sensible' pricing, rival banker says

◆ 'Successful' debut in euros for South Korean automaker ◆ Peak book tops seven times the deal size ◆ Deal lands through fair value

◆ EIB sells customary five year into record demand ◆ ADB brings ‘terrific’ and ‘incredibly strong’ 10 year ◆ More 10 year deals to come still with spread and yield both attractive

The Australian dollar bond market’s growth has propelled it to be the third most important funding currency for some international bond issuers. Its ability to offer investor diversification and arbitrage funding is attracting an increasing number of issuers from spread-conscious SSAs to banks and companies seeking strategic capital, write Sarah Ainsworth and Atanas Dinov

Big US data dump and three central bank monetary meetings set for this week

‘Exciting’ cross-market relative value opportunity on offer as issuers aspire to become regular euro visitors

Semi-government issuer intends to build curve after ‘landmark’ first trade in market that offers both duration and diversification

◆ Singaporean bank issues first sterling covered since September 2024 ◆ Places £750m on £850m order book ◆ Bankers view deal as flat or just inside fair value