News
On 20 August, Coles Group (BBB+/Baa1) launched a new Australian dollar denominated transaction, with five-year floating rate note and 10-year fixed-rate tranches. Indicative price guidance for the forthcoming deal is, respectively, 110 and 155 basis points area over swap benchmarks. Pricing is expected on the day of launch, according to lead managers ANZ, Goldman Sachs and SMBC Nikko.
Wellington International Airport has issued New Zealand’s first public domestic corporate bond since the COVID-19 crisis began, just days before new local cases were detected on 11 August. Lack of supply helped the airport complete the early refinancing of a May 2021 maturity.
On 19 August, New Zealand Debt Management (NZDM) (AA+/Aaa/AA+) announced ANZ, BNZ, Commonwealth Bank and UBS as lead managers for a syndicated tap of its April 2027 nominal bond. The deal is expected to launch in the week beginning 24 August.
GTA Finance Company, the financing entity of Goodman Australia Partnership (BBB by S&P), launched a new seven-year, Australian dollar denominated, benchmark transaction on 19 August. The forthcoming coming deal, which is expected to price on the day of launch, is being marketed at 195 basis points area over semi-quarterly swap. ANZ and National Australia Bank are leading.
On 19 August, Aurizon Network (BBB+/Baa1) mandated Mizuho Securities, National Australia Bank and Westpac Institutional Bank to arrange a series of investor calls in the week beginning 24 August regarding a potential Australian dollar denominated, 10-year or longer transaction.
On 19 August, ANZ Banking Group (AA-/Aa3/A+) launched a new domestic, 10.5-year non-call 5.5-year (10.5NC5.5), tier-two, floating-rate note, benchmark, sustainable development goals (SDG) bond. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 200 basis points area over three-month bank bills. The subordinated notes are expected to be rated BBB+/Baa1/A-. ANZ is sole lead manager.
On 18 August, Bluestone mandated Commonwealth Bank of Australia, Macquarie Bank and National Australia Bank to engage investors regarding a potential Australian dollar denominated, residential mortgage-backed securities (RMBS) transaction from its Sapphire programme.
On 18 August, Coles Group (BBB+/Baa1) mandated ANZ, Goldman Sachs and SMBC Nikko to arrange an investor call on 19 August regarding a potential Australian dollar denominated, benchmark transaction, offered in either or both five-year floating-rate and 10-year fixed-rate notes.