News
On 18 June, Optus Finance, the wholly owned subsidiary of Singtel Optus (A-/A2), mandated ANZ, Commonwealth Bank of Australia and Westpac Institutional Bank to arrange an investor call on 22 June regarding a potential five- and 10-year, Australian dollar denominated transaction.
On 17 June, RedZed Lending Solutions launched its commercial mortgage-backed securities (CMBS) deal, RedZed Trust STC Series 2020-1. Capped total volume for the forthcoming transaction, which is expected to price on the day after launch, is A$300 million (US$206.1 million). Commonwealth Bank of Australia is arranger and lead manager.
On 17 June, S&P Global Ratings assigned expected ratings to RedZed Lending Solutions commercial mortgage-backed securities (CMBS) deal, RedZed Trust STC Series 2020-1. Indicative total volume for the potential deal is A$300 million (US$206.2 million).
The following interview is with a New Zealand-based fixed-income fund manager. It was conducted on 15 June 2020.
On 16 June, Heritage Bank (Baa1/BBB+) launched a new A$50 million (US$34.7 million), 10-year non-call five-year (10NC5), tier-two, floating-rate note transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 350-360 basis points area over three-month bank bills. The notes are expected to be rated Baa3, according to joint lead managers ANZ and National Australia Bank.
The following interview is with a New Zealand-based service provider to the debt capital markets. It was conducted on 12 June 2020.
Liberty Financial (Liberty) launched its residential mortgage-backed securities (RMBS) deal, Liberty Series 2020-2, on 15 June. The deal has indicative volume of A$500 million (US$339.6 million) but could upsize to A$800 million. Pricing is expected on or before 18 June, according to arranger National Australia Bank, which is also joint lead manager with Bank of America Securities, Commonwealth Bank of Australia, Deutsche Bank and Westpac Institutional Bank.