Westpac
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◆ SocGen and especially UBS garner huge demand for high yielding AT1s ◆ Red-hot interest suggests more European banks could issue in subordinated Yankees ◆ HSBC and BBVA raise $2.75bn in tier two
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Deal brings this year’s Kangaroo issuance to over A$25bn
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◆ WA is the fourth Aussie state to issue a green bond ◆ More labelled Australian SSA issuance to come over the next year
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Banks find sweetspot between offering a premium in Swissies while saving compared to euros
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Dollar market to offer certain covered funders size at an attractive cost
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Wednesday’s deals were 'copycats' of those from peers the day before
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Attractive funding on offer as Swedish lender prints A$1bn
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Investors support wide array of deals as secondary market tightens
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The government will tap the new line via tenders after February next year to bring more liquidity
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More popular short dated trades helped propel annual covered bond issuance in single currency to new high
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The frequent borrower has secured refinancing but in smaller size
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Strong outcomes for FIG borrowers in Aussie dollars to drive more deals
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The deal follows health and gender-linked issuance in the currency from the supranational earlier in the year
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New legislation restricts what deeply subordinated debt banks can sell to Australian domestic investors
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Senior and sub deals get done, though some issuers have to pay up
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UK lender finds 5bp-10bp of arbitrage compared with euros
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The short tenor and price transparency comforted investors, helping to drive early order book momentum
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Senior market in euros is open for well rated frequent borrowers as riskier deals could follow
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Firms turn to sterling and euros to take deals off the table and ease New Year funding pressure
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‘Perfect combination of factors’ creates surprise window for last minute issuance
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Further covered and senior paper to come out of Australia as RBA funding programme winds down
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Aussie borrower set to end an almost two year absence from the market this week
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The German bank has tapped dollars twice in two weeks