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Monday, 21 May 2012 09:57 |
Provisional ratings have been assigned to the first covered bond issue from Suncorp Metway (Suncorp), which will also be the first covered bond deal from a non-big four Australian bank. Although the transaction is to be made off a US dollar covered bond programme, the programme allows for multi-currency issuance and a preliminary ratings report from Moody’s Investors Service (Moody’s) says the notes are Australian dollar-denominated.
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Friday, 18 May 2012 16:08 |
Volatility in Europe did not halt Australian issuance as deal activity sparked to life this week. Three high-grade Kangaroos came to market along with a syndicated semi-government bond, two residential mortgage-backed securities and a New Zealand domestic transaction.
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Last Updated on Friday, 18 May 2012 17:02 |
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Friday, 18 May 2012 15:56 |
Lead managers on the domestic market’s two most recently-launched retail transactions say residual demand and the straightforward structure of the new deals should ensure their success despite the high volume of retail issuance in Q1. The newly-offered transactions include the first senior retail bond offer of 2012 and a subordinated – rather than hybrid – bank issue.
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Friday, 18 May 2012 15:47 |
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Friday, 18 May 2012 11:16 |
Renewed Eurozone volatility continues to keep a cap on Australian domestic investor participation in Kangaroo transactions, market participants say. But with a solid international bid enabling a steady flow of smaller deals from less-frequent Kangaroo borrowers, intermediaries believe the market remains functional with manageable pricing for some global borrowers.
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Last Updated on Friday, 18 May 2012 16:05 |
