News
On 15 June, following the release of the Queensland state budget, Queensland Treasury Corporation (QTC) revealed a A$17.4 billion (US$13.4 billion) borrowing programme for the 2021/22 financial year. The requirement is A$5.2 billion lower than forecast at its 2020/21 borrowing programme release in December.
ANZ Banking Group’s recent issuance of tier-two securities in the sterling market is the first UK transaction in this format from an Australian bank since prudential reforms announced in 2019. The issuer says diversification and attractive pricing drove the move as the bank continues to position itself for the 2024 deadline for new capital rules.
The New Zealand securitisation market is showing positive signs after a stop-start few years, with issuer and lead managers on the year’s first new public transaction suggesting momentum is building to the extent that 2021 could become a record issuance year.
Issuance from financial institutions dominated the second week of June in the Australian market, with African Development Bank also executing its debut social bond in Kangaroo format. Meanwhile, New Zealand Debt Management printed a deal across the Tasman sea.
MyState Bank made its senior-unsecured funding debut on 8 June. The issuer says the deal is in support of its plans to accelerate balance sheet growth as the Australian economy strengthens in the wake of COVID-19.