Australia

A pair of banks moved the bar downwards as they printed two of the tightest Australian dollar deals since the 2008 financial crisis: ING Australia found demand for dual tranche covered bond, while United Overseas Bank tapped the three year point of the curve.

ING is set to print the first Australian dollar covered bond of the year this week. Covered paper out of the region has remained scant over the last 12 months, but issuance is set to pick up as onshore lenders start to think about life after the end of the Reserve Bank of Australia's Term Funding Facility.

The Northern Territory Treasury Corporation hit the market with a 31 year bond on Wednesday, extending its curve by nine years.

Credit Suisse has hired Brett Ryman to its investment banking and capital markets (IBCM) team in Australia, according to a memo seen by GlobalCapital Asia.

Citi will be adding four new bankers to its markets and securities business in Australia next month.

Commonwealth Bank of Australia’s has increased the size of its covered bond programme after the Reserve Bank of Australia opted to end its Term Funding Facility, suggesting that Australian banks could be on the verge of increasing their public bond market funding.

Banco Santander is out in the Australian dollar market with its debut Kangaroo bond, and with constructive conditions on offer, further supply could follow.

Santander is preparing to make use of some attractive Australian dollar bond market conditions to sell the first bond from its new Kangaroo programme.

Credit Suisse has hired a new head of debt capital markets for Australia.

Deutsche Bank has named Glenn Morgan as chief executive for its Australia business, giving the veteran banker the position on a permanent basis.

National Australia Bank priced an €850m seven year Australian covered bond on Monday, comfortably inside recent deals from New Zealand and opted against issuing a larger deal size at a wider spread. At the same time, Credit Emiliano mandated leads for another euro benchmark.

A pair of globally systematically important banks (G-SIBs) made rare visits to niche bond markets to raise senior debt at a group level this week, including a Canadian dollar market that is enjoying its busiest year for offshore financials since 2007.