Australia New 2024 Allocation -- 17.3% to Hedge Funds, 31.5% to Bks-Trading

By Sophia Rodrigues

Despite declining nearly half of the bids at the clearing price, 17.3% of the new 0.25% November 2024 syndicated bond issue was sold to hedge funds, and 31.5% to trading books of banks. While the allocation to hedge funds was in line with recent syndications, the 31.5% allocation to banks - trading was the highest among the last three syndications. The allocation to banks' balance sheet was 20.6%, and to fund manager was 25.3%. Central banks got 5.4% of the issue.

The location breakdown shows 68.1% going to domestic investors, 17.6% to Asia ex-Japan, 1.9% to Europe, 5.1% to North America and 7.2% to UK. Japanese investors bought just 0.2%.