Long term shifts in short term funding

Bucking the trend for bank wholesale debt funding to favour longer maturity profiles, new 364-day certificate of deposit markets are emerging in the UK and in the domestic Australian markets. read more

Short-dated bonds suit Australian banks

New issuance was seen in the domestic corporate bond market last week from Suncorp-Metway (rated A+ by S&P), GPT (A), Auswide Bank (BBB), the Sydney branch of Mizuho Bank (A) and the Province of B.. read more

Launching with precision

ANZ may well have chosen precisely the right time to launch its latest Additional Tier 1 capital issue. The issue will be known as ANZ Capital Notes 4. read more

Credit spreads widen as rates fall

One problem with cutting official interest rates is that it can lead to increased credit spreads. Investors may form the view that economic conditions are weakening and therefore risk margins need to.. read more

Westpac's first NZ sub-debt issue

Westpac Banking Corporation is about to undertake its first Basel III compliant, Tier 2 subordinated debt issue in New Zealand. The Bank is looking to raise up to NZ$250 million but says it will accep.. read more