Australia
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SPDB loses investment banking head — MUFG names PF, ESG head for Oceania — Loans veteran Ooi moves to Sydney
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MUFG Bank has appointed Rob Ward as head of project finance and head of ESG finance for Oceania, the firm said on Thursday.
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The International Finance Corporation sold the first SSA Kangaroo deal in over three weeks on Thursday, returning to the market with a A$100m ($71.9m) 11 year bond.
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Australia surprised the market on Tuesday with a bumper long end deal that attracted a substantial amount of offshore interest. The deal comes just as New Zealand sets a date for its for its next syndicated deal.
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Siong Ooi, MUFG Bank’s co-head of debt capital markets, loans and bonds, has relocated to Sydney from Singapore.
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ANZ has altered the pre-maturity test of the hard bullet transactions in its covered bond programme, by doubling the time the covered bond guarantor has to sell assets. The "investor-friendly" update, which improves rating stability, follows ANZ’s recent downgrade and could be of interest to other issuers in a similar situation.
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Australia has launched its second syndication of its 2020-21 fiscal year on Monday morning, Sydney time, extending its curve out to 2051 with a new benchmark.
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In a world first this week, 23-year-old student and Australian retail government bond investor Katta O’Donnell filed a legal challenge against the sovereign on Wednesday, claiming that the government does not do enough to disclose the risks of climate change to investors. If successful, the case could change issuers’ obligations regarding climate risk disclosure.
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The Australian Treasury has chosen the banks that will lead its new June 2051 syndicated offering, which is expected to take place next week.
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Demand for Australia and New Zealand’s first syndications of their 2020-21 fiscal year was high on Tuesday, with both issuers printing their second largest ever deals.
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The Australian Treasury has unveiled its funding plans for its new 2020-21 fiscal year, funding its coronavirus response via a record number of syndications and an extension of its curve out to 2051.
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Deutsche Bahn tapped the Kangaroo and Swedish kronor markets on Wednesday after having spent the first half of 2020 focused on the euro market.