News
Having priced its privately placed residential mortgage-backed securities debut, Basecorp Finance says it sees good opportunities for further growth in New Zealand’s nonbank lending sector and intends to build a presence in public capital markets.
On 11 March, Mirvac Group Finance (A3/A-), the financing entity of Mirvac Group, launched a new 8.5-year, Australian dollar denominated, benchmark transaction. Indicative price guidance for the deal, which is expected to price on the day of launch, is 125-130 basis points area over semi-quarterly swap. ANZ and Commonwealth Bank of Australia are leading.
Pepper Group began taking indications of interest for its residential mortgage-backed securities (RMBS) deal, Pepper I-Prime 2021-1, on 10 March. Capped total volume for the transaction is A$750 million (US$576.3 million) and is expected to launched in the week beginning 15 March. Commonwealth Bank of Australia is arranger and lead manager alongside National Australia Bank, SMBC Nikko and Westpac Institutional Bank.
On 10 March, Humm Group began taking indications of interest for its auto and equipment asset-backed securities (ABS) deal, flexicommercial ABS Trust 2021-1. Indicative volume for the transaction is A$300 million (US$230.5 million), with the potential to upsize, and is expected to launch in the week beginning 15 March. Westpac Institutional Bank is arranger and lead manager alongside National Australia Bank.
On 10 March, WestConnex Finance Company revealed plans for a potential debut, Australian dollar denominated, 10-year or longer, senior-secured, benchmark transaction. ANZ, Commonwealth Bank of Australia and Mizuho Securities have been mandated to arrange a series of investor calls beginning 15 March. The notes are expected to be rated BBB+ by S&P Global Ratings.
The closing session at the KangaNews Sustainable Debt Summit 2020 brought together bankers who are leading market evolution in Australia and North America. The discussion covered the pace of change, targets for the future and hopes for measurable progress in sustainable finance.
On 10 March, Liberty Financial (BBB- by S&P) launched a four-year, Australian dollar denominated, senior-unsecured, floating-rate note, benchmark transaction. Indicative price guidance for the deal, which is expected to price on the day of launch, is 240-250 basis points area over three-month bank bills. Deutsche Bank, National Australia Bank and Westpac Institutional Bank are leading.