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Reverse-enquiry interest sparked ANZ Banking Group’s return to domestic tier-two issuance on the heels of a jumbo print the bank executed in August. The issuer says the decision to open the latest deal up from reverse enquiry paid off, with tenor and pricing points attracting strong investor support domestically and offshore.
This week's primary market deal highlights included a A$900 million (US$619.2 million) 12-year non-call seven-year tier-two transaction from ANZ Banking Group and a debut A$280 million prime auto asset-backed securities trade from Taurus Finance Holdings. Meanwhile, Napier Port Holdings printed a NZ$100 million (US$59.6 million) bond.
Westpac New Zealand says it does not plan to place a substantial proportion of its remaining new local tier-two requirement in the domestic market despite a significant oversubscription for its NZ$600 million (US$357.4 million) print on 8 September. The deal hit a sweet spot for pricing that attracted retail and institutional investors, supporting the positive outcome.