News
Firstmac launched its capped A$1 billion (US$705.1 million) equivalent prime residential mortgage-backed securities (RMBS) deal, Firstmac 2020-3, on 20 October. The deal is in Reg-S format and includes a senior Japanese yen tranche. Pricing is expected on 22 October, according to co-arrangers and joint lead managers, J.P. Morgan and National Australia Bank.
On 20 October, Allied Credit began taking indications of interest for its asset-backed securities (ABS) deal, Allied Credit ABS Trust 2020-1. Total capped volume for the transaction is A$200 million (US$140.9 million) and is expected to launch in the week beginning 26 October. National Australia Bank is arranger and joint lead manager alongside Macquarie Bank.
Argosy Property says its third green-bond deal attracted tighter pricing than comparable issuers’ conventional bonds and a good spread of investor interest. The borrower says the green label is one reason for the positive demand outcome.
On 20 October, flexigroup launched its new asset-backed securities (ABS) deal, Flexi ABS Trust 2020-1. Total capped volume for the transaction is A$250 million (US$176.4 million) and is expected to price on 22 October. Commonwealth Bank of Australia is arranger and joint lead manager alongside National Australia Bank.
On 20 October, Brighte launched its inaugural asset-backed securities (ABS) deal, Brighte Green Trust 2020-1. The capped A$190 million (US$134 million) transaction is backed by green-certified consumer-loan receivables and is expected to price on 22 October. National Australia Bank is arranger.
Bank of China Sydney Branch (BOC Sydney) (A/A1/A) launched a new three-year, Australian dollar denominated, senior-unsecured, floating-rate note (FRN), benchmark transaction on 20 October. The forthcoming deal is being marketed at 83 basis points area over three-month bank bills.