...The major Australian banks were active issuing covered bonds during the first quarter of 2014: AUD7.3bn of mortgage covered bonds were issued across the four major banks in various currencies, compared with AUD4.9bn of for the same period in 2013. There was no issuance from New Zealand issuers in the quarter. Commonwealth Bank of Australia (CBA, AA-/Stable) led the charge with four issues ¡ one seven-year New Zealand dollar issue; two euro deals with maturities of six and 10 years, respectively; and a four-year sterling issue. Westpac Banking Corporation (WBC, AA-/Stable) issued three bonds ¡ one 10-year Australian dollar issue; and two euro deals of five and seven years, respectively. National Australia Bank Limited (NAB, AA-/Stable) brought two bonds ¡ one Australian dollar and the other in Swiss francs, both with 10-year maturities. Finally, Australia and New Zealand Banking Group (ANZ, AA-/Stable) issued a 10-year euro issue. All issuance, but for one private placement, were soft bullets...
