Australian dollar
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◆ Dutch bank raises A$1bn via local branch ◆ Aussie covered supply significantly down ◆ Tight senior/covered spreads push local major banks elsewhere -
Issuance comes after a brief lull in foreign borrower activity
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UK bank's second foray into the subordinated Aussie bond market
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French bank becomes the second European borrower to target the Kangaroo market this week
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◆ ING Bank prices three-part Aussie deal ◆ BNP Paribas set to follow with subordinated note ◆ Major window opens between volatility and US CPI data
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◆ Bankers evaluate levels against domestic and foreign comps ◆ Follows recent UOB and LBBW transactions ◆ More Aussie supply eyed after slow July
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◆ Singaporean bank returns with large and tight deal amid increasing volatility ◆ Comes ahead of expected competing supply ◆ But market has remained relatively insulated
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◆ Regular Australian dollar presence planned ◆ Asian, Aussie and Kiwi investors dominate ◆ Premium paid over euro funding
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◆ The A$750m deal, bankers say, shows rise in European Kangaroos ◆ Deal clears despite heightened volatility elsewhere ◆ Oversubscription concentrated in one tranche
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Strong domestic demand keeps pricing tight despite interest rate uncertainty
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◆ German bank starts touring to showcase its new Australian dollar programme ◆ Debut Kangaroo may follow soon ◆ A benchmark deal has potential for record size in currency
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The senior unsecured Aussie dollar deal is the bank's first since 2021
