Australia

Telstra, Australia’s national telecoms company, returned to one of its most important funding markets, euro bonds, on Monday, with a smallish benchmark deal that joined the remarkable wave of deals that have achieved negative new issue premiums.

Regular Kangaroo issuer Daimler came to the market on Thursday with its first Australian dollar issuance of 2019. Through its Australian entity, Mercedes-Benz Australia/Pacific, Daimler sold an A$150m ($106.2m) 2.5% March 2022 unsubordinated bond.

David Morton, the former head of corporates, financials and multinational banking (CFMB) at HSBC, has announced his retirement.

Jonathan Moulds, a banking veteran who worked in board-level jobs at Barclays and Merrill Lynch International, is to become chair of Litigation Capital Management.

Goldman's Richdale joins KKR – JPM hires Wong from BofA – Fubon recruits from ANZ loans – Natixis names head of PB – Deutsche promotes two for sponsors – ABN opens shop in Australia – MSCI backs China A-shares

Insurance Australia Group (IAG) has launched the first catastrophe bond out of Singapore, as the Lion City seeks to become a hub for insurance-linked securities (ILS) by offering grants to issuers.

JP Morgan has boosted its Australia equity capital markets team with the appointment of Mark Bellofiore, a former Goldman Sachs banker, according to a source familiar with the matter.

ING Bank and Commonwealth Bank of Australia sold 10 year strong covered bond deals on Monday, creating a "virtuous circle" that should encourage more issuers to enter the market, according to one lead manager. But another cautioned that demand for long dated bonds was "frothy".

Citi has named Keith Tuffley as managing director and vice chairman for Australia and New Zealand and a senior international advisor for its newly-formed banking, capital markets and advisory (BCMA) unit.

The CEO and the chair of National Australia Bank will step down in the wake of a critical report into misconduct in the banking sector.

Fearful of missing out and in the absence of competing credit supply, investors piled into higher yielding covered bonds offered by Canadian, Australian and Swedish issuers this week. A negative new issue premium Royal Bank of Canada’s five year epitomised the state of investor frenzy.

Three companies have signed sustainability-linked and green loans this week, as the product's seemingly inexorable rise brings it to new companies and into new countries.