Westpac

Deutsche Bank returned to the dollar market with its biggest-ever deal in the currency as it exploited favourable funding conditions.

The end of the Japanese financial year and strong demand from global asset managers propelled long dated paper in the Kauri and Kangaroo markets to success in the last two weeks.

Korea Development Bank (KDB) announced plans on Tuesday to return to the Kauri market, with what would be its first note in the format since 2014.

State Bank of India launched its $500m fundraising into general syndication on Tuesday via eight mandated lead arrangers and bookrunners.

Syndication has closed for a $975m refinancing for India’s Reliance Industries, with four new lenders coming in.

Australian banks are going through one of their toughest periods as slowing economic growth and greater regulatory oversight cause them to rethink their business models, especially when it comes to overseas activity. With new CEOs in place at three of the four big lenders, the industry is set for an overhaul. Ben Power reports.

Upcoming commercial paper regulation has triggered a flurry of MTNs from Australian banks, moving away from an asset class in which they have historically been very active.

Far from a signal of returning strength in commodities, this week’s iron ore surge was due to freak activity in derivatives markets, an analyst has claimed, since daily futures volumes were equal to the annual output of big iron ore producers.

Macquarie issued its inaugural covered bond on Thursday, meeting a strong reception with the five year €500m paper twice subscribed by investors. Westpac has also opened books on a $1.35bn deal, as Fitch said it expects Australian covered bond issuance to rise this year.

Royal Bank of Canada (RBC) issued a five year Aussie dollar floater on Wednesday, attracting strong demand from Australian and Asian investors.

A $975m refinancing for India’s Reliance Industries has opened for general syndication via 13 mandated lead arrangers and bookrunners.

Westpac New Zealand launched an eight year Swiss franc deal on Friday, making it the second international issuer in the market this week.