News
On 13 August, GTA Finance Company, the financing entity of Goodman Australia Partnership (BBB by S&P), mandated ANZ and National Australia Bank to arrange a series of investor calls in the week beginning 17 August regarding a potential Australian dollar denominated, seven-year or longer benchmark transaction.
On 13 August, QBE Insurance (A-/A3/A-) announced it will hold an investor call on the same day regarding a potential Australian dollar denominated, 16-year non-call six-year (16NC6), tier-two, floating-rate note transaction.
The Reserve Bank of New Zealand (RBNZ) has expanded its large-scale asset purchase (LSAP) programme to NZ$100 billion (US$65.4 billion) from NZ$60 billion and extended its duration to June 2022 from May 2021. In the same 12 August announcement, however, the reserve bank also expressed its confidence that New Zealand had contained the spread of COVID-19 despite the emergence of an outbreak on the previous day.
On 12 August, Insurance Australia Group (IAG) (A by S&P Global Ratings) mandated ANZ, HSBC and J.P. Morgan to host a series of investor calls beginning 13 August regarding a potential Australian dollar denominated, tier-two, intermediate to long-dated, benchmark transaction. The deal is expected to be rated BBB.
On 12 August, Bank of China Sydney Branch (BOC Sydney) (A/A1/A) launched a new three-year, Australian dollar denominated, senior-unsecured, floating-rate note, benchmark transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 87 basis points area over three-month bank bills. Bank of China, Macquarie Bank, National Australia Bank and Westpac Institutional Bank are leading.