New Zealand
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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. -
The World Bank raised NZ$550m ($369.9m) with a rare seven-year New Zealand dollar bond, breaking the record for the largest Kauri bond at that maturity or longer.
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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.
