News
A rate call change that caused yields to plummet was not enough to stop Australian Office of Financial Management (AOFM) breaking its own record for Australian dollar transaction volume, for the fourth time this year. The issuer tells KangaNews orderbook composition illustrates market depth.
On 24 September, Allied Credit mandated Macquarie Bank and National Australia Bank to engage investors regarding a potential Australian dollar denominated transaction from its asset-backed securities (ABS) programme. The programme comprises marine, motorcycles, motor vehicles and other equipment backed loan receivables.
On 24 September, AusNet Services (A-/A3) launched an Australian dollar denominated, 60-year non-call five-year (60NC5), subordinated, benchmark transaction, offered in either or both fixed-to-floating- and floating-rate note formats. The forthcoming deal is being marketed at 310-320 basis points area over swap benchmarks and is expected to price on the day of launch.
On 24 September, Bank of Communications Sydney Branch (BoCom Sydney) (A-/A2) launched a new three-year, Australian dollar denominated, senior-unsecured, floating-rate note (FRN), benchmark transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 88 basis points area over three-month bank bills. ANZ, Bank of China, HSBC, Industrial and Commercial Bank of China and National Australia Bank are leading.
On 23 September, AusNet Services (A-/A3) began taking indications of interest for an Australian dollar denominated, 60-year non-call five-year (60NC5), subordinated, benchmark transaction, offered in either or both fixed- and floating-rate note formats.
Bank of Communications Sydney Branch (BoCom Sydney) (A-/A2) began taking indications of interest for a potential three-year, Australian dollar denominated, senior-unsecured, floating-rate note (FRN), benchmark transaction on 23 September. The deal is being marketed at 88 basis points area over three-month bank bills. ANZ, Bank of China, HSBC, Industrial and Commercial Bank of China and National Australia Bank are leading.
On 23 September, South Australian Government Financing Authority (SAFA) (AA+/Aa1) launched a syndicated increase to its May 2028 line. Indicative price guidance for the deal is 6.5-9.5 basis points area over 10-year futures contract, equivalent to 28-31 basis points area over Australian Commonwealth government bond. Pricing is expected on the day after launch, according to lead managers ANZ, Deutsche Bank, HSBC and Nomura.