IMB’s tier-two transaction progresses to launch

Friday, 19 May 2017

The new tier-two deal for IMB Bank (BBB+, with an expected issue rating of BBB-) progressed to launch on 19 May, after being mandated the previous day. The forthcoming transaction has 10-year, non-call five maturity and price guidance of 310 basis points area over three-month bank bills, refined from initial guidance of low 300s basis points over bills, according to its lead manager, ANZ.

Pricing is expected on 19 May.