New Zealand
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Australia announced a bumper funding programme for 2020-21 on Thursday, almost double its previous effort. Two days earlier, the sovereign surprised the market with a long end deal that attracted a substantial amount of offshore interest. -
Australia surprised the market on Tuesday with a bumper long end deal that attracted a substantial amount of offshore interest. The deal comes just as New Zealand sets a date for its for its next syndicated deal.
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While bankers in the Northern hemisphere plan well-deserved summer breaks, the Australian and New Zealand dollar markets are set to remain open for business, with some competitive pricing on offer.
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Demand for Australia and New Zealand’s first syndications of their 2020-21 fiscal year was high on Tuesday, with both issuers printing their second largest ever deals.
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Australia and New Zealand launched their first syndications of their 2020-21 fiscal years on Monday.
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The New Zealand treasury has appointed the banks to lead the syndication of a May 2041 nominal bond, which is expected to take place next week.
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The Nordic Investment Bank dropped into a busy Kauri market that has so far seen NZ$1.3bn ($835.8m) of SSA deals this month.
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The New Zealand Debt Management Office has announced the tenors for the first syndications of its 2020-21 fiscal year, following on from last week’s record-breaking deal.
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New Zealand hit screens on Monday morning with a new syndicated bond, its third of the 2019-20 fiscal year.
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Australia smashed its syndication record with a bumper A$19bn ($12.2bn) bond issue that attracted A$53.5bn of orders on Wednesday, while New Zealand set a record of its own as it upped its 2020-21 borrowing programme to NZ$60bn ($35.8bn).
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JP Morgan has hired Jonas Troeber as its new head of equity syndicate for Australia and New Zealand, according to an internal memo seen by GlobalCapital Asia.
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The Reserve Bank of New Zealand will prevent its financial institutions from redeeming subordinated bonds during the coronavirus pandemic, putting itself in contrast with other parts of the world, where banks remain free to manage their debt capital as they see fit.
