National Australia Bank

National Australia Bank (NAB) was said to have “fallen between the cracks” this week when a €500m seven year deal appeared to find the limit of investors’ demand for tightly priced senior bonds.

Lloyds Bank issued its first Australian dollar bond through its senior holding company on Wednesday. As the Kangaroo market shows itself receptive to loss-absorbing products, bankers expect more financial institutions to diversify down under.

Lloyds Bank debuted its first ever Australian dollar bond through its senior holding company on Wednesday. As growing numbers of foreign lenders are drawn to the Australian currency — a consequence of the high rates relative to other markets and a buoyant economy — there is a growing incentive for international borrowers to place bonds down under.

National Australia Bank (NAB) and Sweden’s Länsförsäkringar Bank (LF Bank) were selling new senior deals on Monday, with daily supply volumes set to fall later in the week when FIG market participants head to Barcelona for the Euromoney/ECBC Global Covered Bond Congress.

Places for People priced its debut Australian dollar transaction on August 10. The $150m five year deal was also the first by a social housing provider in Australia.

On Wednesday, Heathrow returned to the euro bond market for the first time in over two years, with rates volatility providing a turbulent backdrop for the deal.

On Wednesday, Heathrow returned to the euro bond market for the first time for over two years. The UK airport company printed a €500m 15 year deal, following the lead of Daimler and Gecina earlier in the week.

So far this week, euro corporate bond investors have had to choose between three tranches from an individual issuer. On Wednesday, they had a choice of three issuers, with different ratings and offering different tenors.

Industrial and Commercial Bank of China’s Hong Kong branch made a quick return to the floating rate bond market, raising $700m from a dual-tranche outing on Monday. The lender was focusing more on price over size, with its five year proving to be investors’ sweet spot, according to bankers.

Industrial and Commercial Bank of China’s Hong Kong branch is marketing a floating rate Reg S transaction featuring a three and a five year, having recently raised $1.1bn from a similar deal.

Suomen Hypoteekkiyhdistys (Hypo) and Bank of New Zealand have announced marketing programmes ahead of expected covered bond deals.

Yankee and domestic financial institutions unleashed a funding frenzy on the dollar market with $18bn in supply, as a strong technical backdrop gave way to volatility later in the week.