The Hongkong and Shanghai Banking Corporation Ltd, via its Sydney branch (rated Aa2 by Moody's and AA- by S&P), has priced a new A$750 million three-year senior unsecured floating rate note benchmark at a spread of 70 basis points over 3-month BBSW. read more
Professional services (324 items)
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With interest rates remaining flat and at rockbottom, the easy – and profitable – spread of loans to deposits has not been open to Australia's banks. Part of Westpac's answer has been to boost profits by cutting costs through technology – and to be accountable for progress. read more
Arch Capital Group is the rising titan of the Australian capital market, and jostling for claims as risk decision-maker-in-chief in a hyperventilating mortgage market. Westpac and Macquarie Bank are on board and NAB may join them, with a tender underway. A US upstart of recent vintage, Arch has, in less than two years, rounded up one quarter of an insurance niche once controlled indisputably by Genworth and QBE LMI. Genworth, troubled most by Arch, is reacting to, and coping with, the demolition of its business model by the usurper. Such is Arch's impact, global reinsurers aiming for a place on Macquarie's panel found themselves shut out. read more
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Another legal battle over damage inflicted on conservative investors who were unwittingly lured into high risk investments is nearing an end in the Federal Court. read more