Australia

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.

Singapore’s United Overseas Bank issued a A$500m ($362.2m) bond in Australia on Friday, as a lack of financial paper in the market drove investor demand.

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.

Australia’s fourth syndication of its financial year has set a new size record — the third time it has done so in as many months — but despite the wave of Australian govvie supply, demand still seems fierce.

The Australian Office of Financial Management (AOFM) has launched its fourth syndication of its 2020/21 year.

The Australian Office of Financial Management (AOFM) has announced that it will syndicate a new six year deal next week – marking the first time the sovereign has sold more than three syndications in a single fiscal year.

Unibail-Rodamco-Westfield, one of the world's largest owners of shopping malls, launched a €9bn-plus turnaround plan on Thursday, which includes a €3.5bn rights issue. The aim of is to reduce its leverage to help it withstand the Covid-19 pandemic.

The Queensland Treasury Corporation (QTC) announced on Monday that it plans to borrow A$21bn ($15.2bn) during its 2020/21 fiscal year, which runs between July 1 and June 30. Alongside this, the state signalled its intention to look at issuing green, foreign currency and long term debt to complement its benchmark programme.

Credit Suisse has appointed Allan Chu as its new head of technology, media and telecom (TMT) for Asia Pacific, succeeding Alain Lam, who has moved to Chinese technology company Xiaomi Corp.

International Finance Corp sold the first Kauri bond in more than two months on Thursday, while in the Kangaroo market a pair of European agencies tapped a pocket of demand further down the curve.

Korea Expressway Corp made its debut in the Kangaroo market this week, taking A$450m ($324.6m) from a dual tranche deal.

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