Winners of the Debt Market Issue of the Year at the 2015 Infinz awards: Simon Rutz (CBA), Shaun Roberts (Forsyth Barr), Nigel Annett (ASB), David McCallum (Deutsche Craigs), Jonathan Oram (Macquarie), Kyle Rosevear (Goldman Sachs). Photo / Garry Brandon
Issuer: ASB Bank
Arranger: Commonwealth Bank of Australia
Arranger and joint lead manager: Goldman Sachs NZ
This year's award went to the $400 million subordinated, unsecured debt securities of ASB. The Tier 2 capital notes were New Zealand's first Australian bank Basel III compliant security.
Basel III, which is otherwise known as the Third Basel Accord, is a set of measures regarding bank capital adequacy, market liquidity risk and stress testing that aims to improve regulation and supervision in the banking industry.
The ASB issue was arranged by Commonwealth Bank of Australia and Goldman Sachs New Zealand, with a team of five joint lead managers comprising ASB Securities, Deutsche Craigs, Forsyth Barr, Macquarie Capital NZ and Goldman Sachs.
"Key to success was extensive price discovery ensuring a positive investor reception both initially and in ongoing trading," the judges said. "ASB set the wheels in motion for others to follow and has promoted depth and innovation in New Zealand's debt capital markets."
Westpac's conduct affected a total of 24,621 customers.