National Australia Bank

UK utility company SSE is in the market for its first private placement since its debut in 2012 and investor appetite for the firm’s paper appears as strong as before.

Toronto-Dominion Bank (TD) and National Australia Bank (NAB) raised more than €3bn this week in the US dollar denominated covered bond market, nearly doubling supply seen so far this year.

National Australia Bank found itself taking on the might of London mayor Boris Johnson alone on Monday morning, launching a short sterling senior deal as other borrowers shied away from a nervous FIG market.

Macquarie issued its inaugural covered bond on Thursday, meeting a strong reception with the five year €500m paper twice subscribed by investors. Westpac has also opened books on a $1.35bn deal, as Fitch said it expects Australian covered bond issuance to rise this year.

Royal Bank of Canada (RBC) issued a five year Aussie dollar floater on Wednesday, attracting strong demand from Australian and Asian investors.

A former Commerzbank banker has resurfaced as a member of National Australia Bank’s Asia DCM team.

Clydesdale and Yorkshire Bank Group, the UK mid-sized bank being spun off by National Australia Bank, has set the price range for its London IPO at a level that it hopes will prove compelling to investors in spite of market volatility.

National Australia Bank packed $3.5bn of funding into a multi-tranche deal on Wednesday, taking advantage of strong demand and a heightened risk appetite among US investors.

CYBG may be an ugly name, but it is going to become a familiar one. The Clydesdale and Yorkshire Bank Group will price its IPO on February 2 next year, and begin trading on the London Stock Exchange the same day.

Westpac looked to the sterling market for a seven year senior deal on Monday, as the number of redemptions in the UK currency swells towards the end of the year.

National Australia Bank printed a €750m seven year covered bond on Monday. But the deal didn’t fly off the shelf, even though it offered a substantial premium to other Australian covered bonds. The lack of European Central Bank repo eligibility and slackening demand in the seven year area was blamed.

Swedish lender Swedbank kept Australian dollar supply ticking over on Tuesday, pricing its first bond in the currency since 2008.