While markets have remained liquid and tradeable throughout 2018, there can be little doubt that the period of almost unprecedented beneficial funding conditions that pervaded up to the end of 2017 has passed. At their annual global-markets roundtable in London in June, ANZ and KangaNews heard the latest thinking from key issuer and investor players.
On 25 March, Housing New Zealand (Housing NZ) (AA+/S&P) revealed plans for a new 7.5-year sustainability bond via ANZ and BNZ. A global investor conference call will be held on 26 March.
Industrial and Commercial Bank of China Sydney Branch (ICBC Sydney) (A/A1/A) launched a three-year floating-rate note (FRN) domestic benchmark on 21 March. The forthcoming deal has indicative price guidance of 104 basis points area over three-month bank bills and is expected to price the day after launch, according to joint bookrunners ANZ, ICBC, National Australia Bank and Westpac Institutional Bank.