Asia-Pacific New Issues: NAB in GBP bonds; Dim sum; Kangaroo; Yen TLAC

Kangaroos
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Australian issuers have been active both in the domestic and foreign markets. IADB sold a new 2028 Kanga while SMFG is planning a yen TLAC bond offer.

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Key Asia-Pacific New issues

Domestic AUD bonds:

  • ANZ self-led AUD1.15bn worth of May 15, 2033 bonds with quarterly call at par from May, 2028 as follows:

     

    • AUD275m, 5.845%.

    • AUD875m paying AUD 3M BBSW + 235bps.

     

  • Asian Infrastructure Investment Bank priced AUD500m of 4% May 17, 2028 bonds at ASWs + 58bps.

     

  • Bendigo and Adelaide Bank raised AUD770m via selling May 15, 2026 bonds as follows:

     

    • AUD200m, 4.7%.

    • AUD550m paying AUD 3M BBSW + 125bps.

     

  • China Everbright Bank Sydney branch sold via Bank of China AUD60m in May 12, 2025 FRNs that pay AUD 3M BBSW + 92bps.

     

  • New South Wales Treasury Corp added AUD500m to its existing 1.75%, March 20, 2034 bond line to bring the new size to AUD6.27bn. Priced at ACGBs + 63bps.

     

  • Rabobank Australia branch sold via CBA AUD300m in May 22, 2024 FRNs that pay AUD 3M BBSW + 48bps.

     

  • Royal Bank of Canada Sydney branch self-led AUD370m in May 17, 2024 FRNs that pay AUD 3M BBSW + 60vps.

     

  • Suncorp-Metway raised AUD1bn via selling the following May 18, 2026 domestic bonds:

     

    • AUD250m, 4.5%.

    • AUD750m paying AUD 3M BBSW + 105bps.

     

  • Treasury Corp of Victoria increased the size of its existing bond lines as follows:

     

    • AUD100m to 2.25%, November 20, 2034 to AUD5.63bn. Priced at ACGBs + 57.5bps.

    • AUD245m to 4.75%, September 15, 2036 to AUD5.64bn at ACGBs + 75.8bps.

    • AUD219m to 2%, September 17, 2035 to AUD5.33bn at ACGBs + 58bps.

    • AUD136m to 1.5%, September 10, 2031 to AUD10.81bn.

     

  • UBS Australia branch raised AUD1.425bn via selling the following bonds:

     

    • AUD600m, May 12, 2026 paying AUD 3M BBSW + 130bps.

    • AUD650m, May 12, 2028 paying AUD 3M BBSW + 155bps.

    • AUD175m, 5%, May 12, 2028 at ASWs + 155bps.

 

Foreign issuers in AUD bonds:

  • BNG Bank NV added AUD 40m to its existing  1.55%, February 19, 2032 bonds to bring the new size to AUD260m.

     

  • Inter-American Development Bank sold AUD500m in 3.85%, January 24, 2028 Kangaroo bonds at 43bps over ASWs.

     

  • KfW upsized its existing 3.2% March 15, 2028 Kangaroo bonds by AUD100m to AUD800m. Priced at ACGBs + 52.25bps.

     

  • Korea Development Bank issued via Mizuho AUD30m in 5% May 15, 2033 bonds.

     

  • Ontario Province added via TD Securities AUD35m to its existing 2% October 3, 2034 Kangaroo bonds at ACGBs + 83.25bps. The new size of the line is now AUD355m.

 

Australian issuers in foreign bonds:

  • NAB raised GBP1.25bn via selling June 17, 2026 FRNs that pay GBP O/N SONION + 60bps.

 

Domestic JPY bonds:

  • Aichi Prefecture priced JPY40bn in 0.265%, May 19, 2028 bonds at JGBs + 14.5bps.

     

  • Chiba City sold JPY10bn in 0.260%, March 17, 2028 bonds. Priced at JGBs + 14bps.

     

  • Chiba Prefecture raised JPY40bn via selling bonds in two equal tranches as follows:

     

    • 0.265%, May 25, 2028 at JGBs + 14.5bps.

    • 0.711%, May 25, 2033 at JGBs + 29bps.

     

  • Hiroshima Prefecture sold JPY10bn in 0.711%, May 25, 2033 bonds at JGBs + 29bps.

     

  • Kanagawa Prefecture priced JPY20bn in 0.260%, March 17, 2028 bonds at JGBs + 14bps.

     

  • Osaka City raised JPY25bn via selling the following bonds:

     

    • JPY10bn, 0.265%, May 19, 2028 at JGBs + 14.5bps.

    • JPY15bn, 0.706%, May 19, 2033 at JGBs + 29bps.

     

  • Osaka Prefecture sold JPY10bn in 0.642%, May 30, 2033 bonds.

     

  • Saitama Prefectureraised JPY40bn via selling bonds in two equal tranches as follows:

     

    • 0.265%, May 24, 2028 at JGBs + 14.5bps.

    • 0.706%, May 20, 2033 at JGBs + 29bps.

     

  • Shizuoka Prefecture sold JPY20bn worth of bonds in two equal tranches as follows:

     

    • 0.260%, March 17, 2028 at JGBs + 14bps.

    • 0.711%, March 18, 2033 at JGBs + 29bps.

  • Sumitomo Mitsui Financial Group is planning to sell TLAC bonds via SMBC Nikko. Details of the offer have not been decided but pricing will be as early as late-May.

 

Dim sum bonds:

  • Haitong International Securities Holdings Ltd sold CNH2.8bn in May 18, 2026 Dim sum bonds.

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