News
Spark Finance is the first New Zealand domiciled corporate issuer to execute a public debt capital markets transaction in 2020 – and it chose Australia for its 28 May deal. The borrower says establishing and maintaining a funding presence in Australian dollars is a key component of its debt strategy.
On 4 June, Pepper Group began taking indications of interest for its residential mortgage-backed securities (RMBS) deal, PRS 26. The capped A$700 million (US$482.4 million) deal is expected to launch in the week beginning 8 June. Commonwealth Bank of Australia is arranger, and joint lead manager alongside Macquarie Bank, National Australia Bank, Standard Chartered and Westpac Institutional Bank.
BNG Bank (AAA/Aaa/AAA) launched a A$20 million (US$13.8 million) increase to its July 2028 Kangaroo bond on 4 June. Indicative price guidance for the forthcoming transaction is 63 basis points area over semi-quarterly swap, equivalent to 51.2 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to sole lead manager J.P. Morgan.
On 4 June, KfW Bankengruppe (AAA/Aaa) launched a minimum A$100 million (US$69 million) increase to its June 2022 Kangaroo bond. The forthcoming deal is being marketed at 34 basis points area over semi-quarterly swap, equivalent to 26.65 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to sole lead manager Nomura.
The following interview is with an Australia-based banker in sustainable finance. It was conducted on 28 May 2020.
BNG Bank (AAA/Aaa/AAA) launched a A$20 million (US$13.9 million) increase to its July 2028 Kangaroo bond on 3 June. The forthcoming deal is being marketed at 63 basis points area over semi-quarterly swap, equivalent to 49.5 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to sole lead manager Mizuho Securities.