New Zealand dollar
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The government plans to issue NZ$20bn more bonds than planned through to 2027
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Domestic bond markets once again demonstrate worth for issuers funding in times of global stress
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The government will tap the new line via tenders after February next year to bring more liquidity
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The EU and sovereign issuers will keep SSA investors busy with year-end deals
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The deal follows health and gender-linked issuance in the currency from the supranational earlier in the year
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The NZ$800m deal follows NZ$475m outing from the European Investment Bank in early July
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Supranational prepares triple tranche offering for Japanese investors
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European banks finding pockets of demand in niche currencies
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Elevated basis swap 'oiling the cogs' for niche issuance, says bankers
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The Reserve Bank of New Zealand announced on Wednesday that its quantitative easing programme will come to a surprisingly sudden stop on July 23.
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New Zealand has announced its new government bond programme will feature a 30 year syndication, extending its curve from 2041 to 2051.
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World Bank printed a dual tranche kauri bond on Thursday, vastly exceeding the amount it had targeted and setting the size record for SSA issuers in the currency.
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The New Zealand Treasury reduced its 2020/21 funding programme by NZ$10bn ($6.75bn) to NZ$50bn on Wednesday as its economy shows signs of a quicker recovery than seemed likely after the coronavirus lockdown earlier this year.
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The World Bank hit screens on Monday with a new seven year New Zealand dollar bond; the first at that tenor from a foreign issuer in almost 18 months.
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International Finance Corp sold the first Kauri bond in more than two months on Thursday, while in the Kangaroo market a pair of European agencies tapped a pocket of demand further down the curve.
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Australia and New Zealand broke bond syndication records yet again this week, as Australia printed its largest ever deal while New Zealand scooped its largest ever order book with a seven year tap.
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New Zealand began marketing a tap of its outstanding April 2027 bond on Monday as sovereigns get moving for a busy period of syndications. Finland could follow up with the first post-summer pubic sovereign bond in a core currency later this week.
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Australia announced a bumper funding programme for 2020-21 on Thursday, almost double its previous effort. Two days earlier, the sovereign surprised the market with a long end deal that attracted a substantial amount of offshore interest.
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Australia surprised the market on Tuesday with a bumper long end deal that attracted a substantial amount of offshore interest. The deal comes just as New Zealand sets a date for its for its next syndicated deal.
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While bankers in the Northern hemisphere plan well-deserved summer breaks, the Australian and New Zealand dollar markets are set to remain open for business, with some competitive pricing on offer.
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Demand for Australia and New Zealand’s first syndications of their 2020-21 fiscal year was high on Tuesday, with both issuers printing their second largest ever deals.
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Australia and New Zealand launched their first syndications of their 2020-21 fiscal years on Monday.
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The New Zealand treasury has appointed the banks to lead the syndication of a May 2041 nominal bond, which is expected to take place next week.
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The Nordic Investment Bank dropped into a busy Kauri market that has so far seen NZ$1.3bn ($835.8m) of SSA deals this month.
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The New Zealand Debt Management Office has announced the tenors for the first syndications of its 2020-21 fiscal year, following on from last week’s record-breaking deal.
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The Nordic Investment Bank raised NZ$400m ($260.9m) with its return to the Kauri market on Tuesday, as it prepares to wind down its funding ahead of the summer break.
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Kommunalbanken snagged NZ$500m ($324.5m) on Friday with the second largest Kauri bond of the year. Interest in the New Zealand dollar is high, with NZ$1.1bn worth of SSA Kauri deals printed so far this month — and more are set to follow.
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New Zealand attracted record demand for its largest ever bond as it tapped the market with a four year syndication on Tuesday. With the government facing an elevated funding programme in 2020-21 to combat the effect of the coronavirus pandemic, there is a feeling that record-breaking deal sizes will become more common a spectacle.
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New Zealand hit screens on Monday morning with a new syndicated bond, its third of the 2019-20 fiscal year.
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Finland’s Municipality Finance returned to the domestic New Zealand dollar bond market on Friday after a long absence, to raise its largest Kauri bond since 2008.
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Norway’s Kommunalbanken returned to the domestic New Zealand dollar market after a two year absence on Wednesday with its largest Kauri deal since its debut.
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Australia smashed its syndication record with a bumper A$19bn ($12.2bn) bond issue that attracted A$53.5bn of orders on Wednesday, while New Zealand set a record of its own as it upped its 2020-21 borrowing programme to NZ$60bn ($35.8bn).
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The European Investment Bank inaugurated its sustainability awareness bond (SAB) framework in Australian dollars on Tuesday, while on Wednesday NRW.Bank printed the largest SSA Kangaroo so far this year.
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The Reserve Bank of Australia (RBA) is to start quantitative easing for the first time, it said on Thursday, while earlier this week the Reserve Bank of New Zealand (RBNZ) slashed rates and the New Zealand Treasury set out plans to increase its bond market borrowing.