Commonwealth Bank of Australia
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A tricky market backdrop helped lead to an underwhelming response to a Commonwealth Bank of Australia deal on Thursday, as the lender joined a string of five other financial institutions looking at the floating rate market in euros this week. -
Westpac raised Swiss franc bonds on Monday, reaffirming the idea that financial institutions are best placed to act opportunistically in the Swiss market this year.
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The Inter-American Development Bank has joined the New Zealand dollar market by bringing a NZ$200m ($144.7m) 2023 clip on Thursday. It has been a very active week so far in Kauri bonds, with Asian Development Bank pricing a NZ$500m on Wednesday.
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Commonwealth Bank of Australia (CBA) was marketing a new senior bond in the euro market on Wednesday, following a fast start for Australian bank bond issuance in 2018.
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Lloyds Banking Group opened books on a 30 year tier two deal in dollar market on Thursday, following Commonwealth Bank of Australia’s strong result in the same tenor the day before. The two deals began bookbuilding at the same price point, but SEC-registered Lloyds should also benefit from onshore US demand, while Reg S CBA did not.
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Non-US financial institutions have favoured going to the dollar market for unsecured offerings in the first two days of the year, with Crédit Agricole looking to raise tier two capital in the currency on Wednesday.
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China Development Bank Corp priced its maiden international green bond on Thursday, raising close to $1.7bn from a dual-currency transaction that will fund Belt and Road related projects. The deal offered diversification not only to the issuer but also to investors.
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Bookrunners on China Development Bank Corp’s debut international green bond have released price guidance for a dual-tranche transaction featuring dollars and euros.
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China Development Bank Corp (CDB) is gearing up for talks with fixed income investors for its inaugural offshore green bond, mandating firms for a dual-currency transaction.
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Commonwealth Bank of Australia (CBA) this week raised Sf450m ($462.1m) from the Swiss franc bond market in the largest single tranche Swissie bond by an Australian financial since 2009. The borrower took advantage of the downgrade of a clutch of regular Swiss franc issuers to sell its trade.
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Commonwealth Bank of Australia (CBA) weighed into the tier two market on Monday, with market participants expecting new issuance volumes to remain very high going into October.
