National Australia Bank
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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.
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National Australia Bank has mandated leads for a five year sterling floating rate bond, alongside a seven year euro senior unsecured benchmark. -
SpareBank 1 SR-Bank raised €500m of 5.25 year senior funding on Thursday, though the order book may have been suppressed amid a series of central bank meetings and ahead of the US elections on November 8.
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High Speed Rail Finance, the financing vehicle for the High Speed 1 (HS1) project — the train line between London and the channel tunnel to France — said on Monday it was planning on issuing £314m of private placement notes.
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The Bank of Queensland’s (BoQ) upcoming conditional pass through (CPT) covered bond, the first CPT from an Australian issuer, will mark a major step in the use of the structure, with cross-currency swaps used for the first time.
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National Australia Bank and Credit Suisse have both received the approval of investors to change terms of their existing covered bonds.
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Clydesdale was well supported for its first foray into the sterling subordinated debt market on Monday, allowing the lender to resell £925m of capital and underscoring the health of the sterling market.
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National Australia Bank will give investors the chance to buy into Clydesdale additional tier one and tier two debt, having mandated banks for a roadshow next week.
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Raiffeisenlandesbank Oberösterreich has mandated joint leads for its first benchmark euro covered bond and the Bank of Queensland has hired leads to explore options for a potential structure.
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Bank of America this week returned to the Australian dollar market after a two year absence, with an A$750m ($565m) dual tranche deal.
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Wells Fargo (A/A2/A-) offered two Australian dollar deals to the market this week, totalling A$1.65bn ($1.24bn).
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The Treasury Corporation of Victoria on Tuesday became the first ever semi-governmental institution to issue a green bond in Australia.
