Good evening,

It’s tough times for capital markets issuers and their bankers, so you can’t blame Australians making the most of the open hybrids window.

BoQ joined CBA and Insurance Australia Group in rushing to hybrid markets on Monday, kicking off a $300 million raising with proceeds to repay maturing wholesale notes.

While IAG’s next cab off the rank, bankers are looking for ANZ to potentially make it a four-peat following the release of its full-year results on Thursday.

Bankers reckon the window will be open for a few more weeks, after which it will shut for the summer break. Anyone delaying deals will have to hope conditions are better next February or March.

Elsewhere, we’ve picked up a new bidder for chemical maker and distributor Ixom, and look at who’s funding Thoma Bravo for Nearmap.

Happy reading,
Anthony Macdonald, Sarah Thompson and Kanika Sood
Street Talk editors