News
Having announced its intentions to issue a new 21 November 2025 line in the week beginning 13 July earlier in the day on 10 July, the Australian Office of Financial Management (AOFM) (AAA/Aaa/AAA) revealed the joint lead managers for the syndicated transaction – BofA Securities, J.P. Morgan, UBS and Westpac Institutional Bank.
On 10 July, Australian Office of Financial Management (AOFM) (AAA/Aaa/AAA) revealed plans to undertake two syndicated transactions in the month of July. In the week beginning 13 July, the AOFM intends to issue a new 21 November 2025 line, with joint lead managers to be finalised in the afternoon on 10 July. In the week beginning 27 July, it expects to launch its new June 2051 line, with lead managers to be announced in the preceding week.
The KangaNews Market People of the Year are the individuals who voters in the KangaNews Awards 2019 believe went above and beyond their roles to contribute to the development of the Australian and New Zealand debt markets. There are no restrictions on the firms, positions or seniority of winners – voters are simply asked to consider who contributed most to the market in either or both 2019 specifically or across the span of a career.
Firstmac’s latest residential mortgage-backed securities (RMBS) deal demonstrates the continued rebound of nonbank securitisation since the COVID-19 crisis, the issuer says, with deep investor engagement leading to strong demand. Firstmac’s immediate liquidity needs are now met, allowing it to focus on retaking prime-mortgage market share from the major banks.
DBS Group Holdings made its Australian dollar market return on 8 July. The issuer has been a reliable source of Australian dollar supply in recent years and says its latest deal was predicated by a currency need at the parent bank and a view that funding markets may deteriorate in the short-to-medium term.
SEEK says it is pleased with the outcome of a recent liability-management exercise, despite a tap to its 2026 subordinated bond coming up short of launch volume. The issuer says it is in a comfortable liquidity position even with a challenging operating environment and has been able to complete the redemption of its 2022 maturity bonds.
On 9 July, National Australia Bank (NAB) (AA-/Aa3/AA-) launched its perpetual non-call five-year, wholesale, additional tier-one (AT1) capital, Australian dollar denominated, benchmark transaction. Indicative price guidance for the deal, which is expected to price on the day after launch, is 400-410 basis points area over three-month bank bills.
The Australian Office of Financial Management (AOFM) revealed on 8 July that the pause on inviting investment proposals for its Australian Business Securitisation Fund (ABSF) will remain in place for the time being. It says the fund was designed “as primarily an exercise in market development” but the process of achieving this development is on hiatus and therefore the AOFM will not progress with further ABSF investments.
