Australia
-
In contrast to Europe, heavy retail presence prompts Australian regulator to rejig local banks' capital stacks -
Company finances taxis for private drivers, majoring on EVs
-
The Australia-specific approach has no immediate impact on other major markets
-
Australia offers a perfect getaway from crowded northern markets for global credit issuers
-
Upcoming deal will extend the Australian lender’s secured curve
-
◆ Borrower's first deal of its new fiscal year ◆ CBA opts for size ◆ Market receptive to 'off the run' tenor
-
Australian state prices through domestic curve, despite lower-than-expected investor demand
-
◆ Regular Australian dollar presence planned ◆ Asian, Aussie and Kiwi investors dominate ◆ Premium paid over euro funding
-
Action comes on top of bond misreporting scandal and investigation of alleged malpractice
-
Strong domestic demand keeps pricing tight despite interest rate uncertainty
-
◆ Sterling sale surprises to the upside ◆ Investors appreciate pick up to domestic names ◆ Small premium paid
-
◆ Aussie bank starts one week in-person roadshow ◆ Long five year deal to diversify euro funding ◆ Bank considered waiting until after the summer
