New Zealand
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Goldman Sachs has given additional client coverage responsibilities to its Australia and New Zealand co-heads of investment banking services (IBS) Joe Fayyad and Zac Fletcher, according to two memos on Tuesday seen by GlobalCapital Asia. -
Citi has named Ian Campbell a managing director and head of DCM for Australia and New Zealand, according to a memo seen by GlobalCapital Asia.
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Auckland Council on Thursday pulled off a 7bp tightening for its first ever public deal in euros. The trade was joined in the market by paper from the City of Hamburg and Bpifrance Financement.
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Investment grade corporate issuers hit the euro bond markets in force on Tuesday with five primary transactions in play, but defensive deal sizes characterised the frantic flow.
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Auckland Council has selected a pair of banks to arrange a roadshow for a bond denominated in either euros or sterling.
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ASB Bank extended its euro curve with a tightly priced seven year. But with half the demand that was seen in the previous seven year from a New Zealand bank, its size ambition was thwarted.
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ASB Bank, the fully owned subsidiary of Commonwealth Bank of Australia, extended its curve on Tuesday with a €500m seven year covered bond. But the deal received less than half the demand than ANZ New Zealand did in September despite offering a pick-up to it.
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ANZ New Zealand took advantage of a slight back-up in yields and a scarcity of seven year covered bonds to issue a well oversubscribed deal on Tuesday.
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ANZ New Zealand and Natixis Pfandbriefbank have mandated leads to roadshow euro denominated covered bonds.
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Deutsche Bank is set to issue the third German Pfandbrief of the week after mandating leads for an ultra-long benchmark. Meanwhile, Deutsche Pfandbriefbank (PBB) has priced the fifth dollar Pfandbrief of the year.
