News
Commonwealth Bank of Australia's A$5 billion (US$3.3 billion) senior deal was the highlight of Australian primary issuance in the week ending 11 August. Meanwhile, a NZ$500 million (US$300.7 million) tap to World Bank’s February 2028 Sustainable Development Bond exhibited positive signs for the Kauri market.
Commonwealth Bank of Australia used the window immediately after its results to bring a new senior offering to the domestic market with record-breaking results. These include a final book size of A$7.8 billion (US$5.1 billion) – a figure believed to be the largest on record.
The terms of and demand for La Trobe University’s debut in the debt capital market – a seven-year green bond – held firm despite a rating agency methodology change that put the university’s rating on downgrade review between pricing and settlement. Demand, including specific green demand, during the deal marketing process allowed the issuer to tighten pricing and increase volume.
DBS Bank Sydney Branch’s latest transaction – a debut covered bond from the bank’s Australian branch – took the issuer’s and Singaporean bank Australian dollar issuance further into record territory. DBS Bank reaffirms its strategic positioning in the Australian funding market, saying its latest deal found early demand and maintained momentum throughout the execution process.
