News
On 21 January, Westpac Banking Corporation (AA-/Aa3/A+) launched a new self-led, Australian dollar denominated, 10-year non-call five-year (10NC5), tier-two, benchmark transaction. Offered in either or both fixed- and floating-rate note formats, and expected to be rated BBB+/Baa1/BBB, the deal is being marketed at 165 basis points area over swap benchmarks. Pricing is anticipated on the day of launch.
On 20 January, Westpac Banking Corporation (AA-/Aa3) revealed plans for a potential self-led, Australian dollar denominated, 10-year non-call five-year (10NC5), tier-two, benchmark transaction. Offered in either or both fixed and floating-rate note formats, the notes are expected to be rated BBB+/Baa1.
On 19 January, CPPIB Capital (AAA/Aaa), owned and guaranteed by the Canada Pension Plan Investment Board, revealed plans for a potential Australian dollar denominated, 5-10 year, Reg S, EMTN transaction.
On 19 January, Treasury Corporation of Victoria (TCV) (AA/Aaa) launched a new domestic, November 2025, syndicated, benchmark transaction. The forthcoming deal is being marketed at 31-34 basis points area over the three-year futures contract, equivalent to 14.15-17.15 basis points area over Australian Commonwealth government bond.
On 18 January, Treasury Corporation of Victoria (TCV) (AA/Aaa) announced the syndicate group for its new November 2025 benchmark deal, which is expected to launch this week. Citi, Commonwealth Bank of Australia and Westpac Institutional Bank are leading.
On 18 January, European Investment Bank (EIB) (AAA/Aaa/AAA) launched a new 10-year, A$200 million (US$154.2 million) minimum, Kangaroo transaction. Indicative price guidance for the forthcoming deal is 31 basis points area over semi-quarterly swap, equivalent to 31.2 basis points area over Australian Commonwealth government bond.
The second week of 2021 saw Asian Development Bank print a new A$200 million 10-year Kangaroo deal, and corporate deal flow from University of Melbourne and Mercedes-Benz Australia Pacific.