ANZ, Westpac and Commonwealth Bank of Australia have successfully staged the first issues this week of Australian government guaranteed wholesale bonds into both the US and domestic bond markets, raising US$4.7 billion in a series of issues. BusinessSpectator reported that ANZ and Westpac had raised US$3.25 billion through issues into the US 144a private placement market with the guarantee, while Kanganews reported that CBA had increased the size of its domestic guaranteed issue of 2013 bonds to a record US$1.45 billion. New Zealand banks have yet to use the wholesale guarantee being offered by the New Zealand government, but the success of the Australian issues is good news for the parents of the Australian banks, given the closure in recent months of wholesale foreign debt markets to roll over Australasian bank short term foreign debts. * This article was first published on Friday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.
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