Bank funding costs continue to fall

The RBA's decision to cut the cash rate by 25 basis points last week, to 2.75 per cent, may have been the catalyst for a rush of bank and corporate bond issuance from Wednesday on that highlights th.. read more

Macquarie hybrid nears

As flagged a month ago, Macquarie Group is going to replace the A$600 million of Convertible Preference Securities issued in 2008. It confirmed its intentions with the release of its 2013 results on.. read more

Infratil bond highlights NZ differences

The New Zealand investor in infrastructure and utilities, Infratil Limited (which has no credit ratings), announced its latest bond issue aimed at retail investors last week. It is seeking to raise.. read more

Moody's: bank hybrids are junk or equity

Unlike Fitch and unlike Standard and Poor's, Moody's Investors Service is yet to finalise its approach to rating Basel III-compliant tier 1 and tier 2 capital issued by the banks. read more

Suncorp's new template for others to follow

Suncorp has launched the first Basel III compliant tier-two capital issue by an Australian authorised deposit-taking institution, and seems to have found some novel solutions to anticipated problems.. read more

Suncorp ends bond hiatus

An A$750 million, three-year floating rate note issue from Suncorp-Metway (rated A+) was priced on Friday, in a rare flicker of activity in the corporate bond market last week, after the hiatus link.. read more

Analysis: S&P takes away the hybrid punchbowl

In a move that is likely to stop the rush of corporate hybrid bond issuance seen in 2012 dead in its tracks, Standard & Poor's has released its revised criteria for granting equity credit to suc.. read more

More FI hybrids expected

While corporate hybrid note issues might be few and far between in the future, issuance by financial institutions is continuing apace. read more