Australia

National Australia Bank has opened books for its second dollar-denominated covered bond of the year and the third in dollars from Australia this year.

Goldman Sachs has appointed Andrew Lyons and Matthew Ross as co-heads of Australia equity research alongside Matthew McNee.

ANZ has promoted Paul White and Jimmy Choi to co-heads of capital markets, giving them responsibility over debt origination and debt syndicate across all markets.

Central American development bank Cabei will look to price its first Australian dollar bond on Thursday after announcing price guidance of 180bp over ASW for a proposed 10 year deal.

Australia and New Zealand Bank issued its first euro-denominated covered bond in two years, but with less favourable market conditions investors have become more hesitant, and the deal attracted less than half the demand of one issued two months earlier by its New Zealand subsidiary.

Commonwealth Bank of Australia drew strong demand for its five year Australian dollar covered bond tranches, but its 10 year was without doubt a struggle.

National Australia Bank issued a rarely seen five year sterling denominated covered bond and showed a path that others may follow. It also sold a seven year senior deal in euros.

National Australia Bank paid a minimal concession for a relatively large sterling five year, which it sold alongside a seven year senior unsecured benchmark, on Friday.

Commonwealth Bank of Australia drew strong demand for its floating rate five year Australian dollar benchmark covered bond. The fixed rate five year portion managed to get to only half the size of the floating rate piece, while 10 year tranche was clearly more of a struggle.

Caja Rural Navarra is planning the first green covered bond of the year. It follows a trio of covered bonds issued by Australian banks and the first transaction to be issued from Nordea in more than a year.

National Australia Bank has mandated leads for a five year sterling floating rate bond, alongside a seven year euro senior unsecured benchmark.

Commonwealth Bank of Australia has announced a self-led multi-tranche Australian dollar covered bond for launch later this week.