Asia-Pacific New Issues: KfW new kangas; ANZ EUR and USD bonds; NAB Dim sum
Foreign issuers in AUD bonds:
- Barclays Bank Plc self-lef AUD70m in 5.15%, February 8, 2028 bonds.
- IFC added AUD400m to its existing 3.6% February 24, 2026 Kangaroo bonds to bring the new size to AUD1.45bn. Priced at ACGBs + 63.45bps.
- KfW sold AUD550m in 4.2% February 8, 2029 Kangaroo bonds. Leads are ANZ, JPM and RBC.
- Landesbank Baden-Württemberg self-led AUD35m in 3.2%, February 24, 2025 bonds.
- Morgan Stanley sold via itself AUD20m in February 15, 2033 stepped bonds. The deal pays 5.66% till February 2032, then 6.2%.
- Societe Generale issued AUD70m in 5.2% February 8, 2028 callables with annual call at par from February 2027.
- Standard Chartered Bank self-led AUD25m in 6.17%, February 8, 2038 bonds with annual call at par from February 2027.
Australian issuers in foreign-currency bonds:
- ANZ issued the following bonds:
- EUR1bn, February 3, 2033, paying 5.1101% till the single call at par in February 2028, then EUR 5y swaps + 2.15%. Priced at mid-swaps + 215bps.
- USD150m, February 6, 2026 FRNs paying USD Overnight SOFR + 75bps. Lead is ML.
- NAB issued the following foreign-currency bonds:
- CNY425m in 3.45%, February 21, 2025 Dim sum bonds.
- HKD728m in 4.25% February 9, 2026 bonds via Mizuho.
Domestic AUD bonds:
- Credit Union Australia Ltd raised AUD250m via selling February 9, 2027 FRNs that pay AUD 3M BBSW + 165bps.
- Queensland Treasury Corp sold a new AUD1.5bn 4.5% August 22, 2035 domestic bond via ANZ, NAB and Westpac.
- Tasmanian Public Finance upsized its existing 2.5%, January 21, 2033 bonds by AUD20m. The new size of the line is now AUD892m.
- TCorp increased the size of its existing bonds as follows:
- AUD297m to 2.25%, November 20, 2034 to bring the new size to AUD5.28bn at 57.5bps over ACGBs.
- AUD303m to 4.25%, December 20, 2032 at ACGBs + 75.25bps. The new size is AUD9.01bn.
Domestic JPY bonds:
- Rakuten Group sold JPY250bn in 3.3%, February 10, 2025 bonds.