News
Sintex Consolidated, trading as Loanworks Lending, began taking indications of interest for its residential mortgage-backed securities (RMBS) deal, Blackwattle Series RMBS Trust 2021-1. Indicative total volume for the transaction is A$200 million (US$154.6 million), with the ability to upsize to A$300 million, and is expected to launch in the week beginning 26 April. Westpac Institutional Bank is arranger and lead manager.
On 21 April, La Trobe Financial revealed plans for a potential Australian dollar denominated residential mortgage-backed securities (RMBS) deal, La Trobe Financial Capital Markets Trust 2021-1. Macquarie Bank has been mandated as arranger, and joint lead manager alongside Citi, Commonwealth Bank of Australia, HSBC, National Australia Bank, Natixis and Westpac Institutional Bank, to arrange a series of investor meetings in the week beginning 26 April.
Bank of China Sydney Branch (BOC Sydney) (A/A1/A) launched a new Australian dollar denominated, three-year, senior-unsecured, floating-rate note, benchmark transaction on 21 April. The deal’s indicative price guidance is 63 basis points area over three-month bank bills.
On 21 April, Bank of Queensland (BOQ) (BBB+/A3/A-) launched a new Australian dollar denominated, 10.25-year non-call 5.25-year, wholesale, subordinated, floating-rate note (FRN), benchmark transaction. Indicative price guidance for the deal, which is anticipated to price on the day of launch, is 175 basis points area over three-month bank bills.
The Basel Committee on Banking Supervision published a report on 14 April detailing the transmission mechanisms of physical and transition climate risks into financial stability risk. Risks can be observed through traditional lenses, but the committee says more research is needed fully to understand the potential impact of climate change on the financial system.
Late in the day on 20 April, European Investment Bank (EIB) (AAA/Aaa/AAA) launched a minimum A$100 million (US$77.3 million) tap of its January 2031 Kangaroo bond. The forthcoming deal has indicative price guidance of 27 basis points area over semi-quarterly swap and 29 basis points area over Australian Commonwealth government bond. Pricing is expected on 21 April according to lead manager Nomura.
On 20 April, World Bank (AAA/Aaa) launched a minimum A$300 million (US$233.6 million) increase to its August 2028 Kangaroo bond, via ANZ and RBC Capital Markets. The forthcoming deal has indicative price guidance of 26 basis points area over semi-quarterly swap, equal to 31.4 basis points area over Australian Commonwealth government bond. Pricing is expected on the day after launch.
Bank of China Sydney Branch (BOC Sydney) (A/A1/A) began taking indications of interest for a potential new Australian dollar denominated, three-year, senior-unsecured, floating-rate note, benchmark transaction on 20 April. The deal is being marketed at 63 basis points area over three-month bank bills. ANZ, BOC, Citi, Macquarie Bank, National Australia Bank and UBS are leading.
On 20 April, Bank of Queensland (BOQ) (BBB+/A3/A-) revealed plans for a potential 10.25-year non-call 5.25-year, Australian dollar denominated, wholesale, subordinated, floating-rate note, benchmark transaction. ANZ, National Australia Bank and UBS have been mandated to host an investor call on the same day. The notes are expected to be rated BBB-/BBB.