News

Changing market conditions caused the supranational, sovereign and agency sector to supply more volume to the Australian dollar market in 2023 than it ever has before. Despite typical seasonal issuance patterns, demand remained robust throughout the year – including for newer names – and raised expectations for the sector’s development in 2024.

Only a handful of transactions priced in the Australasian primary market this week, as issuers and investors alike began to put down tools for the Christmas break. Auswide Bank and Columbus Capital priced residential mortgage-backed securities. Meanwhile, Pepper Money completed a small subordinated notes issue and Heartland Australia Group priced a senior bond. This will be the last deal and ratings review until January 2024.