News
On 22 May, the Australian Office of Financial Management (AOFM) released an update on its 2019/20 issuance programme, with gross issuance of Treasury Bonds expected to be A$130 billion (US$85.2 billion), up from an estimate of A$55 billion on 17 December 2019.
On 22 May, Resimac mandated Deutsche Bank, J.P. Morgan, National Australia Bank, Standard Chartered and Westpac Institutional Bank to engage investors regarding a potential Australian dollar denominated, residential mortgage-backed securities deal from its Premier programme.
The following interview is with an Australian-based debt capital markets lawyer. It was conducted on 15 May 2020.
Western Australian Treasury Corporation (WATC) says issuing a new 2031 line was always part of its long-term funding strategy even before semi-government borrowers faced a substantially higher funding need in response to the COVID-19 crisis.
On 21 May, Asian Development Bank (AAA/Aaa/AAA) launched a minimum NZ$100 million (US$61.3 million) increase to its January 2023 Kauri line. The forthcoming deal is being marketed at 33 basis points area over mid-swap, equivalent to 36.3 basis points area over New Zealand government bond.
The following interview is with a Hong Kong-based debt capital markets originator. It was conducted on 15 May 2020.
On 21 May, Macquarie Bank (A+/A2/A) launched a new 10-year non-call five-year (10NC5), Australian dollar denominated, tier-two, benchmark, floating-rate note transaction. Indicative price guidance for the forthcoming deal, expected to price on the day of launch, is 315 basis points area over three-month bank bills.
