Westpac

Svenska Handelsbanken returned to the Kangaroo market this week to print a five year preferred senior deal at a decade tight level, as the long-term absence of funding from the Aussie market's major domestic banks drives down senior spreads.

Handelsbanken is set to return to the Australian dollar market for the first time in nearly two years this week, as Aussie dollar senior paper rallies thanks to the long term absence of funding from the market's major domestic banks.

BNP Paribas and UBS opened the offshore Australian dollar FIG market for 2021 this week, with a pair of new senior deals.

Westpac kicked off 2021’s Australian financials market on Thursday by launching a new tier two bond. Aussie borrowers are expected to focus on capital trades this year in order to meet their total loss-absorbing capacity (TLAC) requirements with tier two debt.

Macquarie achieved a decade low print for a five year Australian dollar floater this week, as the lack of supply from financial issuers in 2020 has sent spreads grinding downwards.

While election results rolled in across the US on Wednesday, Westpac decided in Australia that it would launch a new additional tier one (AT1) deal, targeting retail and institutional investors.

United Overseas Bank achieved the tightest spread for a five year floating rate bank issue in Australian dollars in over 10 years this week, issuing A$750m ($532.0m) to prove that there is still demand at decade-low levels.

A pair of Asian banks tapped the Australian dollar bond market for a combined A$1.25bn ($880m) on Tuesday. A number of banks have visited the Aussie market in recent weeks to great success, and more are set to follow.

South Korea’s Woori Bank sold its first Kangaroo bond on Thursday, raising A$400m to help fund its response to the coronavirus pandemic.

Woori Bank is preparing to make its Kangaroo bond debut, choosing the market to launch its first Covid-19 response bond.

Woori Bank is set to make its Kangaroo bond debut, seeking to tap the Australian dollar market to fund its coronavirus response.

Singapore’s DBS Bank ventured into the Kangaroo market on Wednesday in search of tier two debt. Though Australian dollar tier two volumes have remained stable year on year, there is a marked decline in offshore issuance so far in 2020.