The Australian dollar market has been hot at the start of 2024 but, as the H1 corporate issuance window opens, so are core global markets. Intermediaries say the euro and US dollar markets are both offering highly conducive conditions, providing Australian issuers no shortage of reasons to jet abroad sooner rather than later.
There is no sign of the receptive primary market for financial institution issuers in Australian dollars losing momentum, according to issuer and intermediaries on the latest such deal. As has been the case in many recent transactions, a strong bid out of Asia was instrumental in driving early momentum in MUFG Bank Sydney Branch’s floating-rate-only deal.