Australasian market deal flow slowed to a trickle in the week transitioning to a new financial year. European Investment Bank, CNH Capital and Heartland Australia were the only borrowers to issue.
National Australia Bank (NAB) became the latest major Australian bank to access senior term funding in global markets with the 28 June print of a new euro-denominated covered bond. NAB did not price the deal to satisfy an immediate funding need but rather as an early-stage preparation for maturity towers on the horizon.