Live Updates > Live Update Details
2026-02-16 17:30:09
[ASB Bank Finalizes 5.5-Year Euro Secured Bond, Target Rating Aaa/AAA] ⑴ ASB Bank Limited has appointed CBA, Deutsche Bank, HSBC, Natixis, and UBS as joint lead managers to issue a 5.5-year, €500 million (non-renewable) Reg S registered secured bond. ⑵ The bond is 100% guaranteed by high-quality New Zealand residential mortgage loans and meets the European Secured Bond Labelling (ESC) standard. The expected issuance rating is Aaa/AAA (Moody's/Fitch). The transaction will commence soon, depending on market conditions. ⑶ Referring to recent transactions: BMO issued €500 million of 5-year bonds on January 21st with a coupon rate of 2.750% and an issuance spread of +22 basis points; BNS issued €1.25 billion of 3-year and €1.25 billion of 7-year bonds on the same day, with spreads of +12 and +27 basis points respectively. (4) NACN issued €1 billion of 5-year bonds on January 20, with a spread of +22 basis points; MQGAU issued €650 million of 5-year bonds on February 18, with a spread of +27 basis points.
