Australia

Taiwan’s Formosa Plastics Corp is planning a quick return to the loan market, sending out a request for proposals for two loans totalling $930m to support an iron ore mining project in Australia.

JP Morgan has hired Mark Carlile as vice-chairman of mergers and acquisitions for its Australia and New Zealand franchise, according to an internal memo.

Verizon Communications, the US telecoms group, embarked on an almost $3bn niche currency bond issuing spree this week, which included the largest foreign Swiss franc bond since early 2018.

Bank of Nova Scotia returned to the dollar market with its first new trade in five months this week, after reporting its fiscal first quarter earnings. It was followed by Truist Financial selling an inaugural social bond.

Svenska Handelsbanken returned to the Kangaroo market this week to print a five year preferred senior deal at a decade tight level, as the long-term absence of funding from the Aussie market's major domestic banks drives down senior spreads.

Handelsbanken is set to return to the Australian dollar market for the first time in nearly two years this week, as Aussie dollar senior paper rallies thanks to the long term absence of funding from the market's major domestic banks.

Global financial institutions will focus more on their home markets amid a sharp fall in funding requirements this year, leaving sterling credit investors yearning for more supply from overseas FIG issuers.

The Asian Development Bank has sold its first ever education bond. The proceeds will go towards financing technical and vocational training for educators in the Asia Pacific region.

JP Morgan has named Simone Haslinger and Jonas Troeber as the co-heads of its equity capital markets business in Australia and New Zealand.

Bank bond spreads widened on the back of negative sentiment this week, but a handful of lenders were still able to take advantage of a constructive backdrop in the new issue market.

Westpac kicked off 2021’s Australian financials market on Thursday by launching a new tier two bond. Aussie borrowers are expected to focus on capital trades this year in order to meet their total loss-absorbing capacity (TLAC) requirements with tier two debt.

Macquarie achieved a decade low print for a five year Australian dollar floater this week, as the lack of supply from financial issuers in 2020 has sent spreads grinding downwards.