New Zealand

New Zealand hit screens on Monday morning with a new syndicated bond, its third of the 2019-20 fiscal year.

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).

JP Morgan has hired Jonas Troeber as its new head of equity syndicate for Australia and New Zealand, according to an internal memo seen by GlobalCapital Asia.

The Reserve Bank of New Zealand will prevent its financial institutions from redeeming subordinated bonds during the coronavirus pandemic, putting itself in contrast with other parts of the world, where banks remain free to manage their debt capital as they see fit.

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.

The Reserve Bank of Australia (RBA) and Reserve Bank of New Zealand (RBNZ) acted this week to protect their economies against the effects of the Covid-19 pandemic.

JP Morgan has appointed two new co-heads of investment banking coverage for Australia and New Zealand, according to an internal memo seen by GlobalCapital Asia.

The World Bank is looking to New Zealand for a new five year. The deal will be its first bond in the Kauri market since January 2019.

Chorus, New Zealand’s largest fixed line telecoms business, launched a €300m no-grow seven year bond on Thursday — the only corporate euro issue of the day.

Adam Lavis, head of equities for Australia and New Zealand at Citi, is retiring from the bank after eight years.

Banco Sabadell and ASB Finance launched senior bonds in the euro market on Monday, with the former hitting the ‘sweet spot’ of investor appetite and the latter struggling to achieve the same level of demand as its Kiwi peer ANZ New Zealand had last week.

ANZ New Zealand was well received after opting for a longer maturity on its return to the euro senior market this week, welcoming €1.2bn of orders for its €500m 10 year.