FACTBOX-Australian banks' government guaranteed bond issues

Mon Jan 12, 2009 5:25am GMT
 
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 (This item will be discontinued after Jan. 12, for a list of
Australian government-guaranteed bonds double-click on the
weekly bond log on [AU/DBT])
 SYDNEY, Jan 12 (Reuters) - Australian banks are rushing to
raise funds worldwide under a new government guarantee to help
them shore up their balance sheets amid the global financial
turmoil.
 Australia's move follows similar guarantees introduced in
other countries.
 Over US$26 billion in government-guaranteed bonds has been
raised by Australian banks between Dec. 10 and Jan. 12.
 Below is a summary of the major bond issues bonds,
including investor distributions, based on information obtained
from market sources:
 Australia and New Zealand Banking Group (ANZ.AX)
 Issue:        US$2.6 bln 144a reg S 2, 3-year bonds priced
on                   Dec. 10, 12, 15 & 18.
               The offer comprised US$1.9 bln 3-year at
               100bp/swap and US$700 mln 2-yr at 70bp/Libor.
 Leads:        Bank of America and JPMorgan
 Participants: (Before the offer was increased) 45
investors.                   For the 3-year tranche, 65% from
               North America, 10% from Europe, 20% Asia, 10%
               others. For the 2-year tranche: 40% from
               North America, 20% from Europe, 40% from
               Asia
 Issue:        35 bln yen of five-year government-guaranteed
               eurobonds at 117.5bp over U.S. Libor priced
             around Dec. 18.
 Lead:         Daiwa
 Participants: Not available
 Issue:        A$3.25 bln 3- & 5-year bonds sold in
Australia                   at 85bp and 110bps over swap and
BBSW on                   Jan. 9. Offer included A$650 mln
3-year FRN,                   A$1.5 bln 5-year fixed and A$1.1
bln 5-year                   FRN.
 Leads:        ANZ and UBS
 Participants: 63 investors bought 5-year tranche.
 Issue:        200 mln swiss francs of four-year
   government-guaranteed eurobonds priced on Jan.
    8.
 Lead:         UBS
 Participants: Not available
 Issue:        US$370 mln April 2012 government-guaranteed
             eurobonds priced on Jan. 8.
 Lead:         Daiwa
 Participants: Placed in Asia
 Issue:        200 mln swiss francs of four-year
   government-guaranteed eurobonds priced on Jan.
    8.
 Lead:         UBS
 Participants: Not available
 Issue:        US$750 mln Jan. 2014 government-guaranteed
            144a FRN priced at 101bp/US Libor on Jan. 9.
 Lead:         TD
 Participants: Private placement sold in the United States
 Westpac Banking Corp (WBC.AX)
 Issue:        US$3 bln 144a reg S 3-year (2011)
               government-guaranteed bonds initially priced
at                   100bp/swap on Dec 10, 15, 18 & Jan. 9.
 Leads:        Bank of America, HSBC, JPMorgan and Morgan
               Stanley.
 Participants: (Before the offer was increased) 35
investors.                   65% from North America, 20% from
               Europe, 10% from Asia, 5% others.
 Issue:        11.8 bln yen of five-year government
               guaranteed eurobonds at 83bp over yen Libor
             priced around Dec. 18.
 Lead:         Mitsubishi UFJ and RBS
 Participants: Not available
 Issue:        200 mln swiss francs of five-year
   government-guaranteed eurobonds priced on Jan.
    8.
 Lead:         Credit Suisse
 Participants: Not available
 Issue:        US$750 mln Jan. 16, 2014
government-guaranteed                   144a FRN priced on Jan.
9 at 105bp/US Libor.
 Lead:         TD
 Participants: Not available
 Commonwealth Bank of Australia (CBA.AX) (CBA)
 Issue:        A$2.7 bln 3-, 5-year bonds sold in Australia
               on Dec. 10. Offer included A$1.9 bln 5-year
               fixed rate government-guaranteed bonds at
               120bp/swap; A$300 mln 5-year
               government-guaranteed FRN at 120bp/BBSW, and
               A$500 mln 3-yr non-guaranteed bonds FRN at
               160bp/BBSW.
 Leads:        CBA (sole)
 Participants: 50-70 investors, including middle-market
               buyers; 82% from Australia, 18% Asia and a
               small number from Europe
               63% bought by real money investors, 27% by
               banks
 Issue:        20 bln yen of five-year government-guaranteed
               eurobonds at 80bp over yen Libor priced
         around Dec. 18.
 Lead:         Nikko Citigroup
 Participants: Not available
 Issue:        300 mln swiss francs of four-year
   government-guaranteed eurobonds priced on Jan.
    6.
 Lead:         Credit Suisse
 Participants: Not available
 Issue:        US$3.075 billion of 144a reg S bonds priced
on                   Jan. 9. Offer included US$2.5 bln 3-year
bonds                   at 78bp/swap and US$575 mln 5-year
bonds at                   85bp/swap.
 Joint books:  Citi, Goldman Sachs, JPMorgan
 Participants: Nearly 100 investors in Asia, the U.S. and
            Europe.
               Buyers mostly included asset managers and
               banks.
 Macquarie Bank (MQG.AX)
 Issue:        US$2.1 bln 144a reg S 5-year bonds priced at
               160bp/swap on Dec. 11 and Dec. 12.
 Leads:        Barclays Capital and Goldman Sachs
 Participants: More than 35 investors from the U.S., Europe
               and Asia. More than half placed in the U.S.
               More than half placed with fund managers.
 Issue:        US$1.2 bln 144a reg S 13-month bonds priced
               at 35bp/EDSF on Dec. 17.
 Leads:        Barclays Capital and Goldman Sachs
 Participants: Undisclosed (private placement)
 Issue:        US$250 144a reg S 2014 bonds priced
               at 121.5bp/US Libor on Jan 9.
 Leads:        TD
 Participants: Not available
 National Australia Bank (NAB.AX)
 Issue:        A$2.5 billion 3- and 5-yr bonds sold in
         Australia on Dec. 12. Offer included A$700
               mln 3-year FRN at 100bp/BBSW & A$1.8 bln
               5-year at 120bp/swap.
 Leads:        NAB
 Participants: 43 bond tickets sold, 80% in Australia, 20%
             offshore, mostly Asia. A$58 mln average
               ticket  size.
               40% bought by banks, 36% by funds, 4% by
          government agencies
 Issue:        15 bln yen of five-year government-guaranteed
               eurobonds at around 80bp over yen Libor
               priced around Dec. 18. Offer included 11 bln
              yen in fixed rate notes.
 Lead:         Mizuho
 Participants: Not available
 Issue:        US$555 mln of three-year
government-guaranteed                   eurobonds at 75bp over
U.S. Libor priced on                   Dec. 17.
 Lead:         Daiwa
 Participants: Not available
 Issue:        US$2.5 bln of three-year
government-guaranteed                   144a reg S at 85bp over
swap priced on Jan. 7.
 Lead:         Barclays/HSBC/Merrill Lynch/RBC
 Participants: Over 160 investors, 41% in U.S., 37% in Asia
              Pacific, 22% in Europe and Middle East.
               53% bought by banks and trusts, 28% by funds,
               11% by sovereign entities, rest by insurance
              companies and hedge funds.
 Issue:        A$500 mln of five-year government-guaranteed
              bonds sold in Australia at 110bp over swap
           priced on Jan. 7.
 Lead:         Citigroup, JPMorgan and Goldman Sachs
 Participants: Not available
 Suncorp-Metway (SUN.AX)
 Issue:        A$1.1 bln 3-year bonds sold in Australia at
             140bp/swap on Dec. 11.
 Leads:        Deutsche Bank and JPMorgan
 Participants: A dozen Australian investors. More than half
               were real money investors, the rest banks.
 Issue:        550 mln sterling pound 4-year bonds at
        105bp/swap on Jan. 9.
 Leads:        Citigroup, Deutsche Bank and RBC.
 Participants: Not available.
 Royal Bank of Scotland Plc, Australia branch (RBS.L)
 Issue:        A$1.085 bln 1-yr bonds sold in Australia on
             Dec. 18. Offer included A$485 mln
 government-guaranteed 1-yr FRN at 60bp/BBSW,              
A$550 mln non-guaranteed fixed certificate of              
deposit at 130bp and A$100 mln
               non-guaranteed FRN at 130bp/BBSW.
 Leads:        Macquarie, RBS, Westpac
 Participants: Not immediately available
 (Reporting by Cecile Lefort)

 

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