CBA re-enters term funding with US dollar deal
Commonwealth Bank of Australia ventured to the US dollar market for its first term benchmark transaction since January 2020. The issuer says managing its maturity profile was a key reason for returning to term funding, even as deposit growth remains robust.
NAB taps sterling market for tier-two diversification
National Australia Bank says its decision to tap the sterling market for tier-two paper – just the second transaction from an Australian bank in this market since the finalisation of Australian bank capital rules – supports the opening of an important pool of additional-capital funds in the runup to the new capital rules’ 2024 deadline.
CIBC scores covered-bond pricing record
Canadian Imperial Bank of Commerce Sydney Branch (CIBC) printed a five-year covered bond at all-time low pricing on 7 September, netting its largest-ever Australian dollar volume. The issuer says the deal benefited from participation of new investors as well as larger bids from its existing base.
People’s Choice eyes greater market presence with new debt programme
People’s Choice Credit Union printed a debut deal from its new debt-issuance programme on 7 September, in tier-two format. The issuer also now has the option to issue public senior-unsecured debt alongside its established securitisation programme.
Pacific National deal shows corporate debt market full steam ahead
Deal sources on Pacific National’s market return say the yield on offer and work done to explain the company’s environmental transition plan to investors supported strong interest in the 10-year deal. The transaction is one of many in the pipeline, leads add, as conditions are ripe for new corporate issuance.