Westpac adds franking to latest Aussie hybrid offering [UPDATED]
Westpac Banking Corporation (Westpac)’s forthcoming tier one issue is a floating rate, franked deal, which the issuer acknowledges will place it even more firmly in the retail realm. The issue has an indicative size of A$600 million (US$567.5 million) though Westpac is open to the possibility of upsizing that amount.
World Bank to pioneer supra Kauri retail deal
On June 18 World Bank (AAA/Aaa) announced it is selling a four-year retail bond in New Zealand, via Westpac Institutional Bank (Westpac) – the first deal from a supranational issuer to be offered predominantly for retail participation in the country.AUD domestic market back behind Suncorp tap
Suncorp Metway (A+/Aa3) (Suncorp) reopened the Australian domestic market on June 18, pricing a A$300 million (US$283.38 million) increase to the floating tranche of the 2011 maturity fixed and floating bond it initially brought to market on May 21 this year.CommBank and St.George benefit from Aussie bank vogue
Commonwealth Bank of Australia (AA/Aa1/AA) priced a jumbo A$1.75 billion (US$1.65 billion) 2011 domestic bond on June 18, illustrating the demand for Australian bank paper that has also allowed St.George Bank (A+/Aa2/A+) (St.George) to complete its annual funding three months ahead of schedule.