Westpac top stories

• Lloyds looks at short end on return to Aussie dollars

  

  Lloyds Banking Group has returned to the Aussie dollar market for the first time since May 2018, offering investors the chance to invest in two tranches of senior debt at the operating company level. The issuer follows a wave of European and UK financial institutions making their way down under.

  • 01 Aug 2019

• Westpac leads T2 charge after agreement on Aussie TLAC

  Westpac has laid out plans to sell a pair of tier two bonds in the US dollar market, just days after the Australian Prudential Regulation Authority (Apra) put the asset class at the heart of its total loss-absorbing capacity (TLAC) framework.

  • 15 Jul 2019

• BMO joins bail-in Kangaroo frenzy

  The Bank of Montreal followed Toronto Dominion’s lead on Wednesday to join the Canadian bail-inable Kangaroo frenzy, placing A$750m of five year debt.

  • 12 Jul 2019

• Apra tier two push leaves Australia banks to count the cost

  Australia’s bank capital regulator has refused to back down from requiring the country’s largest banks to meet new loss-absorbing debt targets with tier two bonds, raising the prospect of a wave of supply over the next four years. The question now is: how much will it cost them? Tyler Davies reports.

  • 11 Jul 2019

• APRA meets the market half way over tier two TLAC concerns

  The Australian Prudential Regulation Authority said on Tuesday that Australia’s largest banks would have to use tier two capital to meet their requirements for loss-absorbing debt capacity. But the new targets will start off lower than previously proposed.

  • 09 Jul 2019

• Foreign banks jump into Kangaroos

  Following on from Barclays’ Kangaroo return last month, two more foreign banks looked towards the Australian market on Wednesday. Toronto Dominion Bank placed its inaugural bail-inable Kangaroo and BNP Paribas printed its first Australian dollar AT1 note.

  • 04 Jul 2019

• Standard Chartered makes Kanga debut

  Standard Chartered sailed into uncharted waters on Tuesday to make its Kangaroo debut. The bank issued A$1bn ($700m) across fixed and floating rate tranches, following Barclays' A$800m return to the currency last week.

  • 27 Jun 2019

• Big demand as Barclays' Kanga return

  Barclays returned to the Australian dollar market this week for its second Kangaroo, placing a triple tranche trade that was four times covered. The demand for Kangaroo paper could see more issuers follow Barclays, according to one DCM banker.

  • 21 Jun 2019

• Westpac NZ ends nine year euro senior absence with debut green

  Westpac New Zealand was able to steer its first green bond through the market on Tuesday, even as yields plummeted on the back of suggestions that the European Central Bank could be preparing new stimulus measures. The deal was the issuer’s first fixed rate senior bond in euros for over nine years.

  • 19 Jun 2019

• European banks hop into Kangaroos

  Barclays plans to follow Crédit Agricole and Handelsbanken into the Kangaroo bond market. The UK lender mandated leads for a deal on Wednesday after the other two banks brought deals on Tuesday.

  • 23 May 2019