(18 September 2006 – Australia) ANZ has completed what it describes as the “largest ever” Australian dollar debt capital markets transaction, a A$2.2 billion deal called Resonance Funding Series 2006-1.ANZ said it was the first fully funded synthetic balance sheet collateralised loan obligation issued in purely Australian dollars.
ANZ Institutional Bank (ANZIB) acted as arranger and sole lead manager with Barclays acting as co-manager.
ANZ Institutional group managing director Steve Targett said the deal had been upsized to accommodate the high level of investor demand.
“This transaction clearly demonstrates the depth of the Australian dollar market especially given this is a relatively new asset class for many of our investors,” he said.
“Being able to issue in Australian dollars was particularly gratifying to us, as an Australian bank, we felt it was important to be able to issue in our home currency and support our Australian dollar client base, both domestically and offshore,” Targett said.