MACQUARIE REOPENS SUB MARKET macquarie bank reopened the last shuttered segment of the local wholesale rates and credit market last Thursday with the first Australian dollar Tier 2 note issue of the year. Joint lead managers ANZ, CBA, Macquarie, NAB and Westpac priced the A$750m (USS492m) 10-year non-call five floating-rate note issue 25bp inside initial 315bp area guidance at three-month BBSW plus 290bp. The bank's only domestic wholesale Tier 2 offering in at least a decade attracted an impressive order book above AS2.3bn from 133 accounts.
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