News
Athena and Bluestone Mortgages say their whole-loan funding arrangement presents opportunities for both to grow sustainably and to leverage each other’s knowledge set. The strategic partnership will provide up to A$2 billion (US$1.6 billion) of whole-loan funding to Athena Home Loans over the next three years.
On 7 May, Australian Capital Territory (ACT) (AAA by S&P) mandated ANZ, Commonwealth Bank of Australia, National Australia Bank and UBS as lead managers for a new domestic, nine-year, syndicated, benchmark transaction. The deal is expected to launch in the week beginning 10 May.
World Bank broke a three-month drought of Kauri supranational, sovereign and agency issuance with a blockbuster NZ$1 billion (US$716.2 million) seven-year deal on 28 April. The deal was quickly followed by more Kauri supply including the return of KfW Bankengruppe after a lengthy absence.
On 6 May, Asian Development Bank (ADB) (AAA/Aaa/AAA) launched a new NZ$150 minimum (US$108.4 million), 10-year, Kauri, gender-bond transaction. Indicative price guidance for the deal, which is expected to price on the day after launch, is 36 basis points area over mid-swap. ANZ and BNZ are leading.
On 5 May, New Zealand Local Government Funding Agency (LGFA) (AAA/AA+) revealed plans for a new domestic 10-year transaction, offered to institutional and New Zealand retail investors. Global investor calls will be held on 6 May, with the deal expected to launch in the week beginning 10 May.
On 4 May, Wisr Finance mandated National Australia Bank to engage investors, beginning 5 May, regarding an inaugural A$225 million (US$174.2 million) asset-backed securities (ABS) transaction, Wisr Freedom Trust 2021-1. The potential deal is a securitisation of unsecured personal loans. At the same time, Moody's Investors Service assigned provisional ratings.
On 4 May, KfW Bankengruppe (AAA/Aaa) mandated ANZ, Commonwealth Bank and TD Securities for a new seven-year Kauri transaction.
On 3 May, Australian Finance Group (AFG) launched its residential mortgage-backed securities (RMBS) deal, AFG 2021-1. Indicative total volume for the transaction is A$500 million (US$386 million), with the ability to upsize to A$750 million, and is expected to price on 5 May. National Australia Bank is arranger and lead manager alongside ANZ.