Oceania

Australia and New Zealand Bank has mandated leads for a European roadshow with a view to issuing a euro denominated covered bond or a senior unsecured benchmark, or both. DG Hyp has mandated leads for a long eight year Pfandbrief.

ICBC Sydney issued a Rmb1.2bn ($177m) dim sum bond on Thursday, tapping investor interest for short term liquidity with a two year offering.

ICBC Sydney has returned to the dim sum bond market with the launch of a new two year bond.

Syndication is under way for a A$500m ($380m) five year facility to support Philippine consumer food and beverage company Universal Robina Corp’s acquisition of Snack Brands Australia.

Rating: BBB

Australia sold its largest ever bond in its longest ever maturity on Wednesday. Overseas investors swarmed towards the sovereign’s high yielding offer.

Goodman European partnership, the Luxembourg property vehicle managed by Australian Goodman Group, was alone in the euro market on Thursday with a dual tranche sub benchmark trade.

Investment grade corporate issuers hit the euro bond markets in force on Tuesday with five primary transactions in play, but defensive deal sizes characterised the frantic flow.

The Kangaroo market has faced a variety of challenges but, for each challenge, it has evolved to provide new pockets of value for investors and to meet borrowers’ requirements as they respond to the constantly shifting market realities. By Lewis McLellan.

Auckland Council has selected a pair of banks to arrange a roadshow for a bond denominated in either euros or sterling.

ASB Bank extended its euro curve with a tightly priced seven year. But with half the demand that was seen in the previous seven year from a New Zealand bank, its size ambition was thwarted.

ASB Bank, the fully owned subsidiary of Commonwealth Bank of Australia, extended its curve on Tuesday with a €500m seven year covered bond. But the deal received less than half the demand than ANZ New Zealand did in September despite offering a pick-up to it.