Westpac

Banks are bounding back into the Kangaroo market. On Wednesday, BNP Paribas jumped in to sell the first syndicated Australian dollar senior non-preferred deal since the start of the Covid-19 crisis, later that day the Bank of Nova Scotia announced plans to join the fray with a mandate for a three year bail-inable deal.

A pair of French banks visited the five year point of the Kangaroo curve on Tuesday. BPCE raised A$650m of senior preferred paper, while BNP Paribas mandated for a senior non-preferred deal.

A quartet of SSAs borrowed a combined A$940m ($613.4m) into the Kangaroo market this week, spurring the SSA Aussie dollar market on to its best monthly volume in over nine months.

Woolworths reopened the Australian dollar corporate market with a A$1bn ($645m) dual tranche trade on Wednesday, the first from a corporate since the end of February.

Bank of Communications Financial Leasing Co (BoCom Leasing) found strong support from investors for its $800m dual-tranche floating-rate deal on Monday, thanks to its status as a defensive credit in a volatile market.

Industrial and Commercial Bank of China turned to the Australian debt market on Monday to raise A$500m ($336m) through its Sydney branch.

ONGC Videsh (OVL), the international arm of Indian state-owned Oil and Natural Gas Corp, has mandated nine banks for a $1bn loan.

Records tumbled in the US bond market this week, as Bank of America and Toronto Dominion set new pricing records.

Ford Motor Credit Company mandated banks on Tuesday to lead a new Australian dollar deal, its first since 2016.

Australia and New Zealand Banking Group Limited (ANZ) launched a new sustainable tier two on Friday. Looking to broaden its investor universe in the euro market and enlarge its tier two buffer after changes in Australian regulation, ANZ’s deal attracted orders of 2.5 times its €1bn size.

Goldman Sachs set the lowest coupon of 2019 on a new preferred deal in the institutional bond market this week, while BNP Paribas buried the memory of its troubled dollar trade in January with a storming come-back.

Australia & New Zealand Banking Group (ANZ) is getting ready to offer FIG investors a very rare chance to purchase green bank capital in euros, with the issuer set to hit the road for a new tier two in November.