ANZ and Westpac's US activity dominates first days of 2011

With the first full week of the new year a quiet one in the domestic market, the most notable activity over the holiday period from Australian borrowers came in the US, from two of Australia's big four banks. ANZ and Westpac Banking Corporation (Westpac) both announced buyback offers for US dollar, government-guaranteed benchmark bond lines with the former also pricing US$3 billion in a new standalone twin-maturity issue.