Credit Agricole triples expectations in Kangaroo market return
Credit Agricole opened the Kangaroo market for financial institutions for 2024 with a record-breaking deal, the bank saying it chose an early-year window to secure a ‘first mover’ advantage amid a busy start for Australian dollar supply. Even so, the issuer also expressed amazement at the volume of interest in the book for its senior-preferred transaction.
Tier-two demand reaches new heights in ANZ’s domestic return
Late year investor engagement and strong fundamentals helped ANZ Banking Group to gather what it believes to be the equal largest book for an Australian dollar tier-two trade. The borrower says interest in the asset class continues to grow even after a successful 2023 for subordinated debt issuance.
2023 year in review: Australian securitisation defies gravity to register a record volume year
The Australian securitisation market enjoyed a rebound year in 2023, printing record volume including an unprecedented level of collateral diversity and a notable uptick in bank issuance. It is not all plain sailing in the nonbank lender space, but origination conditions and the funding side appear to be improving.
Westpac opens market for domestic issuers
Westpac Banking Corporation says domestic liquidity levels and pricing are positive at the start of 2024, continuing the trend from last year. The bank kicked off issuance from domestic borrowers with a senior three- and five-year A$5.1 billion (US$3.4 billion) trade priced on 8 January.
2023 year in review: New Zealand Kangaroos hop to Australian shores
Deals from New Zealand issuers in the Australian market revved up in a big way in 2023. There are a raft of reasons why the Kangaroo market should remain attractive to opportunistic New Zealand borrowers into 2024 – provided market fundamentals, including basis swap dynamics, are supportive.