National Australia Bank
The key to unlocking a new level of green issuance in the Australian bond market could be a deeper understanding of the assets on banks’ balance sheets. Institutional assets lend themselves to classification and verification, while the potential of SME and household loans remains almost untapped.
Northern Territory Treasury Corporation (NTTC) added another long-dated point to its curve on 15 August, with a A$500 million (US$363.1 million) May 2030 syndicated transaction, via ANZ, National Australia Bank and UBS. NTTC’s Darwin-based general manager, Alex Pollon, discusses strategy as the issuer seeks to fulfil the funding requirement of the government’s capital and infrastructure commitments.
Global market action in the lead up to DBS Bank Australia Branch (DBS)’s latest senior transaction had little effect on the outcome, the issuer says. With market momentum reviving in the week leading up to the deal, volume and pricing were another step forward for DBS in what has become an important funding market for the bank.
ING Bank Australia (ING Australia) (A/A3/A) launched a new, benchmark Australian dollar denominated covered bond transaction on 16 August. The forthcoming deal will be comprised of a three-year floating-rate note tranche, being marketed at 60 basis points area over three-month bank bills, and a five-year fixed rate tranche, being marketed at 80 basis points area over semi-quarterly swap. Pricing is expected on the day after launch.