News
Floating rates notes were the only coupon type issued in the Australasian market in the week ending 1 July. New South Wales Treasury Corporation printed a A$4 billion (US$2.8 billion) transaction and Westpac announced a A$300 million tap to its March 2025 line.
BNZ identified a narrow window of market stability to revisit its euro covered-bond programme on 21 June, finding strong demand across Europe for the five-year mortgage-backed deal. The covered product was an obvious choice for the volume the issuer sought as ongoing market turbulence makes senior-unsecured pricing less attractive, deal sources say.
National Australia Bank pre-placed the senior notes of its latest residential mortgage-backed securities deal and added a green tranche to smooth deal execution. The transaction is the first of its type from a major Australian bank this year and further evidence major-bank funding programmes are normalising, according to deal sources.
National Australia Bank printed the first residential mortgage-backed securities transaction from a major bank this year, which included a green tranche, and Angle Asset Finance executed its debut deal.