News
On 28 August, Commonwealth Bank of Australia (CommBank) revealed plans to engage investors regarding a refinancing of its Class A1 notes from its residential mortgage-backed securities (RMBS) deal, Medallion Trust Series 2015-2.
On 28 August, RedZed Lending Solutions began taking indications of interest for its capped A$400 million (US$290.7 million) residential mortgage-backed securities (RMBS) deal, RedZed Trust Series 2020-2. The transaction is expected to launch in the week beginning 31 August. Commonwealth Bank of Australia is arranger, and joint lead manager alongside National Australia Bank.
On 28 August, Housing New Zealand, a subsidiary of Kāinga Ora – Homes and Communities (AA+/Aaa), mandated BNZ, Commonwealth Bank and Westpac Banking Corporation New Zealand Branch for a potential new 15-year wellbeing bond. The transaction is expected to launch in the week beginning 31 August.
On 27 August, Liberty Financial began taking indications of interest for its new SME asset-backed securities (ABS) deal, Liberty Series 2020-1 SME. Indicative volume for the potential deal is A$400 million (US$289.5 million), with the potential to upsize. Westpac Institutional Bank is arranger and joint lead manager alongside Credit Suisse. Launch is expected in the week beginning 31 August.
The Australian Office of Financial Management (AOFM) broke its own syndicated volume record, for the third time in 2020, with its new November 2031 Treasury bond deal. The transaction took advantage of what the issuer says is the deepest demand point on the sovereign curve.
On 27 August, Mercedes-Benz Australia Pacific (Mercedes-Benz) (BBB+/A3/BBB+) mandated Mizuho Securities, TD Securities and Westpac Institutional Bank for a potential three-year Australian dollar denominated transaction off the issuer’s EMTN programme.