Commonwealth Bank of Australia

Industrial and Commercial Bank of China has priced $3.15bn of green bonds in US dollars, Hong Kong dollars and offshore renminbi (CNH), achieving a number of firsts in the process.

The World Bank is planning to add fully digital cash settlement, multiple currencies and more nodes to its ‘bond–i’ platform, according to a banker involved in developing the blockchain system. Earlier this month, the supranational added tap functionality, as it raised A$50m ($33.7m) of capital.

Market participants expect more banks will now want to print Kangaroos after investors on a search for yield poured into UBS's additional tier one (AT1) deal on Tuesday. The syndication, which surprised those involved after it managed to shave 75bp off its initial pricing guidance and attract A$4bn ($2.71bn) of orders, suggested a market ripe for a deal spree.

UBS sold an Australian dollar additional tier one capital note on Tuesday, surprising those involved after it managed to shave 75bp off of its initial pricing guidance on the back of a A$4bn ($2.7bn) orderbook. Market participants expect more banks will now want to look at the Kangaroo market for capital issuance, with BNP Paribas having also launched an AT1 in the currency last month.

Following last Friday’s Asian Development Bank Kiwi dollar deal, the Inter-American Development Bank and International Finance Corporation both came to the Kauri market on Tuesday to tap a pair of mid-curve notes. With demand for mid-curve Kauri products high, bankers expect more issuers to follow as funding remains attractive for dollar-based borrowers.

The Asian Development Bank returned to the Kiwi dollar market to print its largest Kauri deal since January 2018 this week. With the Inter-American Development Bank and International Finance Corporation set to follow with a pair of taps in the coming days, bankers are expecting a busy few weeks in the market as investors react to the recent surprise interest rate cut from the Reserve Bank of New Zealand.

The World Bank is preparing to reopen its 'blockchain offered new debt instrument', or bond-i for short, as it looks to market the Australian dollar deal to a more international audience.

As core markets in the northern hemisphere begin to cool, SSA issuers are looking towards an Australian dollar sector unaffected by the summer close.

Shandong Qingyuan Group Co, a Chinese petrochemical company, has made a quick return to the loan market with a $750m syndicated facility, six months after closing a club deal.

The Bank of Montreal followed Toronto Dominion’s lead on Wednesday to join the Canadian bail-inable Kangaroo frenzy, placing A$750m of five year debt.

Australia’s bank capital regulator has refused to back down from requiring the country’s largest banks to meet new loss-absorbing debt targets with tier two bonds, raising the prospect of a wave of supply over the next four years. The question now is: how much will it cost them? Tyler Davies reports.

The Australian Prudential Regulation Authority said on Tuesday that Australia’s largest banks would have to use tier two capital to meet their requirements for loss-absorbing debt capacity. But the new targets will start off lower than previously proposed.