ANZ (AA/Aa1/AA-) has completed its first Samurai bond of 2011, issuing a ¥86.1 billion (US$1.04 billion) dual-tranche five-year deal on January 14. The transaction continues ANZ's recent pattern of Samurai issuance – the bank has issued a benchmark deal in Japan in the first quarter of each year since 2008 – and market participants believe certainty of execution and favourable pricing will assist a developing pipeline of deals from Australian issuers in the first quarter.