The mid-year issuance lull is well set in across the Australian and New Zealand debt market, though securitisation is providing some limited flow. Thinktank priced a A$500 million (US$344.4 million) small-ticket commercial and residential mortgage deal while other issuers started exploring deals. Meanwhile, New Zealand Local Government Funding Agency announced plans for its first Australian dollar deal.
A slow start to the new financial year in the Australasian primary market saw limited flow from high-grade and financial issuers. Highlights were New Zealand Debt Management's upsized NZ$5 billion (US$3.1 billion) April 2033 nominal bond tap and Suncorp's A$1 billion (US$663.8 million) soft-bullet covered bond.