Oceania

Australia and New Zealand launched their first syndications of their 2020-21 fiscal years on Monday.

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.

The Australian Treasury has unveiled its funding plans for its new 2020-21 fiscal year, funding its coronavirus response via a record number of syndications and an extension of its curve out to 2051.

Deutsche Bahn tapped the Kangaroo and Swedish kronor markets on Wednesday after having spent the first half of 2020 focused on the euro market.

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.

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.

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.

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

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.

Two recent policy changes from the Reserve Bank of Australia (RBA) spurred a pair of foreign banks to scoop A$3.2bn ($2.2bn) from the bond market this week. An expansion of repo-eligibility and a term funding facility for domestic banks have freed up the funds to drive the bumper deals, according to a banker at one of Australia's big four banks.

The International Finance Corp returned to the Australian dollar bond market to fund its response to the coronavirus pandemic on Monday, while at the end of last week BNG capped the strongest month for SSA Kangaroo deals for over nine months.

Flutter Entertainment, the parent of bookies Paddy Power and Betfair, has sold £812m of new shares to institutional investors to reduce debt and position itself for further growth once sporting events around the world are allowed to resume and its retail stores are permitted to reopen.