On 19 August, UBS Group (UBS) (A-/A+) revealed plans for an Australian dollar denominated perpetual non-call five-year additional tier-one (AT1) capital transaction. Initial price guidance for the transaction, which is expected to launch in the near future, is 5.125 per cent area.
ASB Bank says it was eager to access the domestic market to kickstart its new financial year funding task, amid robust demand conditions. Deal distribution in New Zealand dollars continues to be domestically focused but has been able to produce multiple record-volume deals for financial institution (FI) issuers.
ING Bank Australia (ING Australia) has issued its second domestic covered-bond transaction. The borrower tells KangaNews funding diversification was the primary driver but it aims to be a regular issuer in the format.