News
On 20 October, Lendlease Group (Baa3/BBB-), via its financing entity Lendlease Finance, launched a new Australian dollar denominated, seven-year, senior-unsecured, benchmark, green-bond transaction. The forthcoming deal has indicative price guidance of 315 basis points area over semi-quarterly swap and is expected to price on the day of launch. ANZ, Commonwealth Bank of Australia, HSBC, National Australia Bank and SMBC Nikko are leading.
On 20 October, United Overseas Bank Sydney Branch (UOB Sydney) (AA-/Aa1/AA-) launched a new five-year, Australian dollar denominated, senior-unsecured, floating-rate note (FRN) transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 64 basis points area over three-month bank bills. ANZ is leading.
On 19 October, Pepper Group launched its residential mortgage-backed securities (RMBS) deal, Pepper I-Prime 2020-1. Total indicative volume for the transaction is A$750 million (US$532.6 million), with the capacity to be upsized, and is expected to price on 22 October. National Australia Bank is arranger and joint lead manager alongside Commonwealth Bank of Australia, Standard Chartered and Westpac Institutional Bank.
United Overseas Bank Sydney Branch (UOB Sydney) (AA-/Aa1/AA-) began taking indications of interest for a potential new five-year, Australian dollar denominated, senior-unsecured, floating-rate note (FRN) transaction on 19 October. The deal is being marketed at 64 basis points area over three-month bank bills. ANZ is leading.
On 19 October, Australian Military Bank (Baa1) launched a new A$15 million (US$10.6 million) 10-year non-call five-year (10NC5), tier-two, floating-rate note (FRN) transaction. The forthcoming deal is being marketed at 380 basis points area over three-month bank bills and is expected to be rated Baa3. Pricing is expected on the day of launch, according to lead manager Westpac Institutional Bank.
On 19 October, Lendlease Group (Baa3/BBB-), via its financing entity Lendlease Finance, began taking indications of interest for a new seven-year, Australian dollar denominated, benchmark, green-bond transaction. Initial price guidance for the potential deal is 315 basis points area over semi-quarterly swap.
Bank of China Sydney Branch (BOC Sydney) (A/A1/A) began taking indications of interest for a potential three-year, Australian dollar denominated, senior-unsecured, benchmark, floating-rate note (FRN) transaction on 19 October. The deal is being marketed at 83 basis points area over three-month bank bills.
On 19 October, New South Wales Treasury Corporation (TCorp) (AAA/Aaa) launched a new November 2030, Australian dollar denominated, syndicated, green-bond transaction. Indicative price guidance for the deal is 35.5-38.5 basis points area over 10-year futures contract, equivalent to 35.8-38.8 basis points area over Australian Commonwealth government bond.
On 19 October, CPIF Finance (Baa1), the financing entity of Charter Hall Prime Industrial Fund, launched a 10-year, Australian dollar denominated transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 195 basis points area over semi-quarterly swap. ANZ, National Australia Bank and SMBC Nikko are leading.
Labelled bond issuance featured in both Australian and New Zealand markets in the third week of October, with deals from Woori Bank and Argosy Property. Meanwhile, Zip Co returned to the securitisation market for its second public transaction.