News
Verizon’s third Australian dollar transaction formed part of a run of blockbuster deals by the same issuer across global markets, following its participation in recent US 5G spectrum auctions. Australian dollar leads say the deal priced at a competitive level for the issuer and demand was broad based.
On 18 March, MUFG Bank Sydney Branch (MUFG Sydney) (A/A1) began taking indications of interest for a new Australian dollar denominated, 3.5-year, senior-unsecured, floating-rate note (FRN), benchmark transaction. Initial price guidance for the deal is 55 basis points area over three-month bank bills. ANZ, Commonwealth Bank of Australia, MUFG Securities, Morgan Stanley and National Australia Bank are leading.
On 18 March, Lendlease Group (Baa3/BBB-), via its financing entity Lendlease Finance, revealed plans for a potential 10-year, Australian dollar denominated, benchmark, green-bond transaction. ANZ, Bank of China, Commonwealth Bank of Australia (CBA) and HSBC have been mandated to arrange a series of investor calls in the week beginning 22 March. ANZ, CBA and HSBC have also been mandated as green-bond advisers.
APT Pipelines, the borrowing entity of APA Group, issued a multitranche deal in the euro and sterling markets on 9 March. The issuer says it was not fazed by ongoing rates volatility and its focus was the transaction’s ability to secure significantly lower cost of funds.