Deal and ratings review, week ending May 9 2014

There was only a sprinkling of deal activity in the Australia and New Zealand domestic markets in the first full week of May. Of greater focus was the release of half-year results for National Australia Bank and Westpac Banking Corporation (Westpac), after ANZ Banking Group's were published on May 1. Westpac also launched a new tier-one hybrid issue during the week under review.