Financial and non-financial corporates were active in the capital markets last week with a series of debt issues notable for their long tenors.

ANZ issued A$1.25 billion of subordinated notes with a February 2031 maturity. The notes are paying a margin of 185 basis points over the three-month bank bill swap rate.

The current three-month bank bill swap rate is 10 basis points.

Suncorp priced $250 million of floating rate, unsecured subordinated notes, which have a maturity date of December 2035. It will pay 225 bps over three-month BBSW.

Insurer IAG issued $450 million of subordinated debt with a December 2036 maturity, paying a margin of 245 bps over three-month BBSW.

Coles issued $450 million of medium terms notes: $300 million of 10-year fixed rate notes priced at 2.1 per cent; and $150 million of five-year floating rate notes priced at a margin of 97 bps over three-month BBSW.

Coles made its first debt capital markets issue last year and this is its first issue this year.

Coles chief financial officer Leah Weckert said in a statement that there was plenty of demand from local and offshore investors.