National Australia Bank
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One month marketing period begins on Thursday ahead of a 10 year issuance
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Bankers disagree about whether fatigue for 10 year deals is growing
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◆ European banks lead issuance with focus on senior funding ◆ Market wobbles prove funding more challenging than expected ◆ Foreign banks’ capital raising is one prominent feature
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French bank back for the third time in two weeks with a three tranche Kangaroo
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◆ NAB chooses faster Euroyen while BNP Paribas goes bigger in Samurai ◆ French deal showed greater 'depth' of domestic market ◆ Low premium paid
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Bank paper dominates in offshore Swissies as NAB and Santander UK add to flow
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◆ Lloyds to diversify its capital raising into Aussie dollars following Singapore dollar debut last week ◆ Asian and European investors expected to take part ◆ Mizuho raises A$400m with EMTN deal
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Deal brings this year’s Kangaroo issuance to over A$25bn
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EFA and NAIF are financing fossil fuel expansion as government readies green bond
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Sovereign maintains its plan to make its green debut in mid-2024
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◆ Improved tone lures local lenders in size ◆ Yankee arb possible again ◆ European trio steps up Yankee printing on Thursday
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Aussie lender’s A$5.25bn size bettered only by sovereign syndications