News
On 22 April, Firstmac began taking indications of interest for its residential mortgage-backed securities (RMBS) deal, Firstmac Mortgage Funding Trust No. 4 Series 2021-2. Indicative volume for the deal is A$1 billion (US$775.5 million), with the ability to upsize, and is expected to launch in the week beginning 26 April. ANZ is arranger and lead manager alongside National Australia Bank, Standard Chartered and SMBC Nikko.
On 22 April, Australian Gas Networks (AGN) (A-/A3) launched an Australian dollar denominated transaction comprising either or both seven- and 10-year tenors. The tranches are being marketed respectively at 100 and 120-125 basis points area over semi-quarterly swap. Pricing is expected on the day of launch, according to lead managers National Australia Bank and SMBC Nikko.
On 21 April, Resimac began taking indications of interest for a nonconforming residential mortgage-backed securities (RMBS) deal, Bastille 2021-1. The transaction is capped at A$1 billion (US$771.6 million) and could launch and price in the near future. Commonwealth Bank of Australia and National Australia Bank are co-arrangers for the deal, and are joined by Citi and Macquarie Bank as lead managers.
Late in the day on 21 April, Pepper Group began taking indications of interest for its residential mortgage-backed securities (RMBS) deal, PRS 29. Total capped volume for the deal is A$750 million (US$578.4 million) and is expected to launch in the week beginning 26 April. Westpac Institutional Bank is arranger and lead manager alongside Commonwealth Bank of Australia, Macquarie Bank and National Australia Bank.
On 21 April, IMB Bank (Baa1/BBB+) announced plans for a fixed-income investor update call on the following day, regarding a potential 10-year non-call five-year (10NC5), subordinated, floating-rate note (FRN) deal. The transaction is expected to be rated Baa3. ANZ and National Australia Bank have been mandated as joint lead managers.
Asian Development Bank (ADB) (AAA/Aaa/AAA) launched a new A$300 million (US$231.4 million) minimum, 4.5-year, Kangaroo, gender-bond transaction on 21 April. Indicative price guidance for the deal is 17 basis points area over semi-quarterly swap, equivalent to 40.1 and 23.1 basis points area over April 2025 and November 2025 Australian Commonwealth government bonds.
On 21 April, Australian Gas Networks (AGN) (A-/A3) began taking indications of interest for its potential Australian dollar denominated transaction, offered in either or both seven- and 10-year tenors. The deal is being marketed at 100 and 120-125 basis points area over semi-quarterly swap. National Australia Bank and SMBC Nikko are leading.