New Zealand
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Strong demand allows grid operator to tighten price and land inside fair value
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Canadian banks are expected to be one of the largest issuer groups in the asset class as they diversify across currencies
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Kiwi sub-sovereign sacrifices size to price tight
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Deal brings this year’s Kangaroo issuance to over A$25bn
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Strong issuers get better than expected traction, sparking opportunistic deals
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The government plans to issue NZ$20bn more bonds than planned through to 2027
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The Austrian bank’s deal drew on high quality French and UK accounts, as two other banks saw good demand for their deals
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Wind-down of central bank Covid schemes prompts bank issuers to revisit old friends
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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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Offshore HQLA Level 1 deal proves popular with bank treasuries
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If Canada can overcome climate hurdles, then why not Oz?
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Deal hailed as showing leadership for Asia Pacific
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Kiwi sub-sovereign to meet with investors ahead of green bond sale
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Investment grade broadband infrastructure firm looking to buy back old debt with new
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Matthew Collin to leave NZDM after 15 years in its treasury team
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Sovereign still on course for green bond debut by end of 2022 as two European sovereigns line up deals
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French bank hires in Australia and Greater China as part of plan to grow its business further in the region
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The appointments reflect the bank’s growth plans for its institutional business in the region
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New position created as sovereign plans first green bond
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Australia, New Zealand and Singapore to look at covered bonds to finance life after central bank funding
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ANZ New Zealand is preparing to issue a tier two bond, marking its first foray into the format.
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Covered bonds issued this week by SCBC and Bank of New Zealand were thinly oversubscribed and illustrated that investors are still sensitive to price, albeit that demand was good for a small green debut from Eika Boligkreditt and a tap from Oma Savings Bank.
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Bank of New Zealand (BNZ) priced an €850m seven year covered bond on Tuesday in line with the bid side of Westpac New Zealand’s deal in the same size and tenor issued last week. Although the order book was thinly subscribed, lead managers deemed the quality of orders high.
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Eika Boligkreditt has mandated joint leads for a 10 year and its first green covered bond under its newly established green framework. At the same time, Bank of New Zealand plans a seven year benchmark and Finland's Oma Savings Bank intends to tap its outstanding six year deal.
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Westpac New Zealand attracted a high quality order book for a covered bond issue on Wednesday but it was slow to build and thinly subscribed, leading some to conclude that the market lacked confidence.
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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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Tuesday's €750m 10 year covered bond from ASB Finance demonstrated commitment to the market according to the bank's Treasurer, Chandu Bhindi, who spoke to GlobalCapital about the deal on Thursday.
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Commonwealth Bank of Australia's New Zealand subsidiary ASB Finance issued its largest covered bond on Tuesday, the first 10 year from New Zealand and the first covered bond from the country since January 2019. The focus for this week’s transaction was all about re-engaging with investors, said ASB Bank treasurer, Chandu Bhindi.
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Commonwealth Bank of Australia's New Zealand subsidiary ASB Finance issued its largest covered bond on Tuesday, the first 10 year from New Zealand and the first covered bond from the country since January 2019.
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Commonwealth Bank of Australia’s New Zealand subsidiary, ASB Finance, has mandated leads for the first Kiwi covered bond since January 2019. At the same time, Berlin Hyp has appointed lead managers for a 12 year mortgage Pfandbrief.
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New Zealand will be an important test case for mandatory reporting on climate risks. Financial firms everywhere would be wise to sit up and take notice.
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Grid operator Transpower New Zealand returned to the Swissie market this week, landing through its outstanding curve while offering a small premium over Swissgrid.