Westpac top stories

• SMFG back in Aussie dollars

  

  Japanese Sumitomo Mitsui Financial Group (SMFG), the holding company for SMBC, returned to Australian dollars on Wednesday after two years away from the currency.

  • 10 Oct 2019

• FRN bonanza sweeps MTN market

  Corporate, FIG and SSA issuers placed floating rate notes this week, pegged to Euribor, Sonia and Libor. With so many issuers coming to market, bankers are interested to see which other borrowers 'take advantage of the liquidity'.

  • 04 Oct 2019

• KfW and Bpifrance smash open euro SSA market

  Fresh from the announcement of a new stimulus package by the European Central Bank last week, investors stormed into the euro public sector bond market on Tuesday, led by KfW and Bpifrance. The latter printed €1.25bn, equaling its biggest ever single issue. The strong momentum is set to continue with a string of mandates, including two supranationals for Wednesday.

  • 17 Sep 2019

• SG Aussie AT1 fails to reach heights of rivals

  FIG bond bankers are worried, as one put it, that “the steam is coming out of the Kangaroo market” after Thursday’s additional tier 1 (AT1) deal from Société Générale failed to reach the heights of deals from UBS and BNP Paribas earlier in the summer.

  • 05 Sep 2019

• Westpac goes big as MTNs move into peripheral

  Westpac placed just under HK$13.4bn into the Hong Kong market across two MTNs last week — the pair of bonds are its largest ever in the currency, according to Dealogic. The notes came in a busy week for niche issuance, and bankers have posited that this move into the peripheral markets comes as a response to the global fall in yields.

  • 03 Sep 2019

• MTNs slip through as public market resumes

  Issuance is starting to resume after the summer break; however, this week a booming public market drew away investor and issuer attention from MTNs. Despite this, a range of established SSA, FIG and corporate borrowers have slipped in, with deals across core, niche and EM currencies.

  • 30 Aug 2019

• UBS AT1 surprise lays open Kanga possibilities

  Market participants expect more banks will now want to print Kangaroos after investors on a search for yield poured into UBS's additional tier one (AT1) deal on Tuesday. The syndication, which surprised those involved after it managed to shave 75bp off its initial pricing guidance and attract A$4bn ($2.71bn) of orders, suggested a market ripe for a deal spree.

  • 22 Aug 2019

• KDB prices tightest and largest Korean Kangaroo

  Korea Development Bank moved to place the largest Korean Kangaroo earlier this week, a note that was also priced more tightly than any other Korean-issued Aussie dollar deal.

  • 22 Aug 2019

• 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