Oceania

National Australia Bank is seeking the consent of investors to change the terms of four covered bonds denominated in a range of currencies, for which it will pay a fee.

Deutsche Bank is set to issue the third German Pfandbrief of the week after mandating leads for an ultra-long benchmark. Meanwhile, Deutsche Pfandbriefbank (PBB) has priced the fifth dollar Pfandbrief of the year.

CME Group has added two futures contract with alumina as the underlying to its base metals range.

Though there are early signs the recent rally in sterling bond spreads may be fading, ASB Finance this week became the latest bank to take advantage of very attractive funding opportunities in the currency.

Australian issuer Suncorp-Metway pulled in A$350m with the first Australian dollar denominated 10 year covered bond seen since 2014.

While the European covered bond pipeline is barren, Australian issuer Suncorp-Metway is lining up a new Australian dollar-denominated 10 year covered bond, continuing its tradition of issuing in its home currency.

Steven Maartensz and Dyson Bowditch have been named co-heads of equities distribution for Goldman Sachs in Australia, according to an internal memo seen by GlobalCapital Asia.

Sumitomo Mitsui Banking Corp has made a number of changes to its organisation in Hong Kong and Singapore, in a bid to improve its distribution platform.

Eurofima has increased its January 2027 Kangaroo bond by A$20m ($15.4m), taking the total outstanding volume of the bond to A$95m. The smaller sized, tap to demand reopening is a growing trend in the market, said bankers.

The SSA market enjoyed a resurgence of Kangaroo issuance this week. The flurry was mostly driven by Asian reverse enquiry, and stands in contrast to an inactive first half for SSA issuance in Aussie dollars.

KfW was able to price through its curve as it reopened an Australian dollar bond on Wednesday evening Australian time.

A Chinese company-led consortium is set to use staple financing worth A$800m ($606.4m) to back its acquisition of a stake in Australia’s GenesisCare. The transaction has piqued the interest of loan market participants given how rarely the instrument is used in Asia, writes Shruti Chaturvedi.