Demand rewards Plenti’s full structure ABS offering and scales lead manager bid
Plenti Finance is the first issuer to test the Australian dollar market’s support for nonmortgage asset-backed securities in 2024. Deal sources say there was robust support for Plenti’s offering with high coverage ratios across all tranches that allowed significant scaling of the lead manager bid.
NAB goes longer with euro covered-bond return
While Australia’s major banks have focused primarily – if not exclusively – on their domestic market for funding at the start of 2024, National Australia Bank demonstrated global appetite for these credits with a euro covered-bond return on 29 January. The €1.25 billion seven-year deal achieved record demand and price tightening for an Australian bank in this format, deal sources say, and reflects emerging appetite for longer duration in the region.
ANZ three- and five-year senior finds comfortable home in domestic market
ANZ Banking Group capped the volume of its latest trade but says it easily could have printed more, if it needed to. The borrower believes it received the largest peak orderbook in the domestic market, outside the government sector.
QTC highlights ongoing demand scale following green-bond return
Queensland Treasury Corporation added its name to the list of Australian semi-government issuers to syndicate transactions in January 2024, also adding to sustainability labelled supply ahead of its first maturity in the format. The issuer says demand was robust, including notable offshore interest.
Semi-government market gets underway unseasonably early
Semi-government issuers accessed the domestic market in quick succession in the early weeks of 2024. The deals arrived notably earlier for this sector than previous issuance patterns infer and found plentiful demand, including from offshore accounts.