Asia-Pacific New Issues: Westpac and Macquaire in overseas bonds

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Australian banks continue to seek funding from the overseas markets, with some good-sized EUR- and USD-denominated deals from Westpac and Macquaire.

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New issues

Aussie issuers in overseas bonds:

  • ICBC Sydney brank sold the following short-term bonds:


    • HKD156m, 4%, July 17, 2023 via CBA.

    • USD12.1m, 4.9%, January 17, 2024 via CBA.

    • EUR100m, 2.75%, July 13, 2023 via BNP.


  • Macquarie Bank Ltd raised USD1bn via selling 6.798% January 18, 2033 bonds in Reg S/144A format.


  • NAB self-led USD15m in January 18, 2033 FRNs that pay USD overnight SOFR + 125bps.


  • Westpac Banking Corp sold via Barclays, BNP Paribas, JPM and itself the following EUR-denominated benchmark senior bonds:


    • EUR500m, 3.799%, January 17, 2030 at 90bps over mid-swaps.

    • EUR1bn, 3.703%, January 16, 2026 at 60bps over mid-swaps.


  • Westpac Banking Corp New York branch issued via BA USD200m in January 11, 2024 FRNs that pay USD overnight SOFR + 52bps.


Domestic JPY bonds:

  • Kobe City sold JPY2bn in 0.38%, January 28, 2028 bonds.


  • Major Joint Local Bond priced JPY103bn of 0.8%, January 25, 2033 bonds at 30bps over JGBs.