New Zealand
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The Asian Development Bank's minimum NZ$200m ($143.6m) five year Kauri bond has grown to NZ$500m, indicating strong demand in the mid-part of the New Zealand dollar curve. -
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The European Financial Stability Facility (EFSF) announced on Monday that it would complete its 2017 funding programme with a pair of taps on Tuesday. Conditions in euros looked strong on Monday, as they allowed the Council of Auckland to pull its spread in by 7bp for its second ever euro deal.
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The European Financial Stability Facility should aim for a bond in the 10 to 12 year part of the curve if it wants to complete its funding for the year next week, according to an SSA syndicate official. Other upcoming euro supply includes Auckland Council.
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Auckland Council is set to bring its second euro bond of the year — and only its third ever — next week, following a series of investor meetings in Europe.
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Commonwealth Bank of Australia subsidiary, ASB Finance, has mandated leads for a roadshow to market its first covered bond of the year and the third from a New Zealand issuer.
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European Energy Exchange (EEX) and Global Dairy Trade have jointly expressed interest in a potential auction mechanism for European dairy products.
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Bank of New Zealand (BNZ) issued an oversubscribed €750m seven year covered bond this week, meeting its size and spread ambitions despite concerns about the outlook for spreads.
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Suomen Hypoteekkiyhdistys (Hypo) and Bank of New Zealand have announced marketing programmes ahead of expected covered bond deals.
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Citi has promoted Stella Choe to the position of head of corporate banking for Australia and New Zealand, succeeding Shane Taylor who is retiring from the firm, according to an internal memo seen by GlobalCapital Asia.
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Berlin Hyp (BHH) is expected to open order books for it second Green Pfandbrief on Wednesday and Bank of New Zealand has mandated leads to roadshow a possible senior or covered bond deal later this month.
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JP Morgan has given a fillip to its equities business in Australia and New Zealand, poaching three former Goldman Sachs bankers, according to a memo seen by GlobalCapital Asia.
