Asia-Pacific New Issues: BPCE Samurais; DB, NBC Dim-sum

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New issues in the Asia-Pacific market, including a multi-tranche Samurai deal by BPCE, Dim-sum bonds by DB and NBC, and some AUD new issues in size.

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New domestic AUD issues – Suncorp-Metway AUD1bn deal, Westpac 1y FRNs in size

  • ANZ self-led AUD140m in 4.45% in December 15, 2025 bonds.

     

  • CBA sold via itself AUD145m in 4.4%, December 12, 2025 bonds.

     

  • NAB sold via HSBC USD100m in 4.76%, December 8, 2025 bonds.

     

  • South Australian Government Financing Authority issued AUD1.125bn in June 15, 2027 FRNs that pay overnight RBAC + 31bps.

     

  • Suncorp-Metway raised AUD1bn via selling the following December 14, 2027 bonds:

     

    • AUD700m paying AUD 3M BBSW + 125bps.

    • AUD300m, 4.8%.

     

  • Westpac Banking Corp self-led AUD1.7bn in December 8, 2023 FRNs that pay AUD 3M BBSW + 50bps.

 

 

Foreign issuers in AUD bonds – KBN 2027 Kanga upsize

  • Kommunalbanken AS upsized its existing 1.9%, January 19, 2027 Kangaroo bonds by AUD60m to bring the new size to AUD615m. Lead is DB.

 

 

Australian issuers in offshore bonds

  • CBA issued USD100m in 5.58%, December 13, 2023 bonds via Barclays.

 

 

New domestic JPY issues - Sumitomo Mitsui JPY100bn+ perpetuals

  • Aiful Corp sold JPY15bn in 0.940%, December 12, 2025 bonds.

     

  • Central Nippon Expressway priced JPY75bn in 0.439%, November 13, 2027 bonds at JGBs + 30bps.

     

  • Fukuoka City issued JPY10bn in 0.260%, November 24, 2027 bonds.

     

  • Via Nomura, Heiwa Real Estate REIT raised JPY2bn via selling 0.88%, December 10, 2032 bonds.

     

  • Hiroshima City priced JPY10bn in 0.554%, December 24, 2032 bonds at JGBs + 30.5bps.

     

  • Hokkaido Prefecture issued JPY20bn in 0.554%, April 27, 2032 bonds at JGBs + 30.5bps.

     

  • Hyogo Prefecture sold JPY13bn in 0.554%, November 20, 2032 bonds. Priced at JGBs + 30.5bps.

     

  • JEHDR raised JPY10bn via selling 1.140%, November 26, 2042 bonds.

     

  • JFM issued JPY61bn worth of bonds as follows:

     

    • JPY24bn, 0.554%, December 28, 2032 at JGBs + 30.5bps.

    • JPY19bn, 0.249%, December 28, 2027 at JGBs + 12bps.

    • JPY18bn, 1.172%, December 26, 2042 at JGBs + 9.5bps.

     

  • JHF sold JPY30bn in 0.614%, December 19, 2034 bonds.

     

  • Kitakyushu City priced JPY10bn in 0.554%, November 23, 2032 bonds at JGBs + 30.5bps.

     

  • Major Joint Local Bonds priced JPY87bn of 0.544%, December 24, 2032 bonds at 30.5bps over JGBs.

     

  • Mie Prefectureissued JPY10bn in 0.554%, November 24, 2032 bonds. Priced at JGBs + 30.5bps.

     

  • Mizuho Leasing raised JPY20bn via selling 0.350%, November 12, 2025 bonds.

     

  • Nagano Prefecture priced JPY10bn in 0.260%, September 24, 2027 bonds at JGBs + 12bps.

     

  • Nagoya Expressway Corp sold the following bonds:

     

    • JPY3.3bn, 0.304%, December 16, 2027 at JGBs + 18bps.

    • JPY8bn, 0.126%, December 16, 2024 at JGBs + 13bps.

     

  • Niigata City issued JPY10bn in 0.554%, December 23, 2032 bonds. Priced at JGBs + 30.5bps.

     

  • Saitama City sold JPY10bn in 0.554%, November 23, 2032 bonds. Priced at JGBs + 30.5bps.

     

  • Sumitomo Mitsui raised via Nikko JPY107bn via selling the following perpetual bonds:

     

    • JPY41bn, 1.75% till December 2032, then JGBs + 1.483%.

    • JPY66bn, 1.534% till December 2028, then JGBs + 1.38%.

     

  • THK Co Ltd priced JPY10bn in 0.539%, November 14, 2027 bonds at JGBs + 40bps.

     

  • Tohoku Electric Power Co sold JPY27bn in 0.864%, December 25, 2028 bonds at JGBs + 70bps.

     

  • Tottori Prefecture issued JPY10bn in 0.554%, December 23, 2032 bonds. Priced at JGBs + 30.5bps.

 

 

Overseas issuers in JPY bonds – BPCE Samurais, UK’s United Utilities

  • BPCE issued the following Samurai bonds:

     

    • JPY2.5bn 1.578%, December 15, 2028. Callable at par in December 2027.

    • JPY5bn 1.915%, December 15, 2032. Callable at par in December 2031.

    • JPY8.4bn 2.6%, December 15, 2032. Callable at par in December 2027.

    • JPY2bn 1.757%, December 13, 2030. Callable at par in December 2029.

    • JPY1.5bn 1.207%, December 14, 2029.

    • JPY21.7bn 1.048%, December 15, 2027.

    • JPY29.6bn 0.899%, December 15, 2025.

     

  • UK-based and listed United Utilities Water Finance Plc raised JPY8.5bn via selling 1.45%, December 16, 2037 bonds in London.

 

 

Dim-sum bonds

  • Deutsche Bank self-led CNY300m in 3.75% December 16, 2025 Dim-sum bonds.

     

  • Hefei Gaoxin Development and Investment Group Co raised CNY770m via selling 4.49%, December 9, 2025 Dim-sum bonds

     

  • Huatai International Finance sold via Standard Chartered Bank CNY440m in 3.49%, December 12, 2023 Dim-sum bonds.

     

  • National Bank of Canada raised CNY86m via selling December 22, 2026 Dim-sum bonds with annual call at par from December 2024.

 

 

Chinese issuers in offshore bonds

  • CITIC Securities issued via CLSA USD175m in 5.15%, May 14, 2024 bonds.

     

  • ICBC Macau branch sold USD250m worth of December 15, 2024 Reg S FRNs that pay USD O/N SOFR + 80bps Vs initial price guidance around +120bps area.

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