News
Treasury Corporation of Victoria (TCV) (AA/Aa1) launched a syndicated tap of its November 2025 line on 13 April. Indicative price guidance for the transaction is 50-53 basis points area over three-year futures contract, equivalent to 14.3-17.3 basis points area over Australian Commonwealth government bond.
On 13 April, Credit Union Australia (CUA) (BBB/Baa1) launched a new A$100 million (US$76.1 million), five-year, senior-unsecured, floating-rate note transaction. Indicative price guidance for the deal, which is expected to price on the day of launch, is 68 basis points area over three-month bank bills. ANZ and National Australia Bank are leading.
On 13 April, BPCE (A+/A1/A+) launched a multi-tranche, Australian dollar denominated deal, comprising five-year, senior-preferred notes and seven-year non-call six-year, senior-nonpreferred notes. The former has indicative price guidance of 80-85 basis points area, and the latter 120-125 basis points area, over swap benchmarks. Both tranches are being offered in fixed- and floating-rate formats.
Rabobank Australia Branch (A+/Aa3/A+) launched a new three-year, domestic, senior-preferred, floating-rate note (FRN), benchmark transaction. Indicative price guidance for the deal is 40 basis points area over three-month bank bills.
On 13 April, CHC Finance, the financing entity of Charter Hall Group (Baa1), began taking indications of interest for a new Australian dollar denominated, 10-year, senior-unsecured, benchmark transaction. The deal is being marketed at 155 basis points area over semi-quarterly swap. Commonwealth Bank of Australia, HSBC and RBC Capital Markets are leading.
Incitec Pivot has completed a sustainability-linked loan (SLL) facility, a development the borrower and its sustainability structurer say demonstrates how this type of financing can be relevant even for companies in hard-to-abate sectors. In a further development for the Australian SLL market, G8 Education also recently signed a new facility with KPIs primarily linked to social outcomes.
On 12 April, NSW Electricity Networks Finance, the financing entity of TransGrid (Baa2), mandated ANZ and MUFG Securities to arrange an investor call on 13 April regarding a potential eight-year, Australian dollar denominated, senior-secured, benchmark transaction.
On 12 April, Brighten Home Loans began launched its residential mortgage-backed securities (RMBS) deal, Solaris 2021-1. The transaction is backed by prime Australian resident and nonresident loans, and is expected to price on 14 April with indicative volume of A$261.78 million (US$199 million). The deal has potential to upsize. Credit Suisse, Natixis and Standard Chartered are joint lead managers.