News
On 11 February, Macquarie Bank launched an indicative A$400 million (US$268.1 million) additional tier-one (AT1) capital transaction. The indicative margin for the deal is 290-320 basis points over three-month bank bills. The final margin will be set, following a bookbuild, on 14 February. The offer is expected to open on 19 February and close on 18 March.
Western Australian Treasury Corporation (WATC) (AA+/Aa1) launched a new five-year, Australian dollar denominated, syndicated, benchmark, floating-rate note (FRN) transaction on 11 February. Indicative price guidance for the forthcoming deal, which is expected to price on the day after launch, is 25.5-28.5 basis points area over three-month bank bills. ANZ and Deutsche Bank are leading.
On 11 February, First Abu Dhabi Bank (First Abu Dhabi) (AA-/Aa3/AA-) launched a new five-year, senior-unsecured, Kangaroo transaction, offered in either or both fixed and floating-rate formats. The forthcoming deal is being marketed at 115 basis points area over swap benchmarks. Pricing is expected on the day of launch, according to ANZ, First Abu Dhabi and Nomura.
On 11 February, Sumitomo Mitsui Banking Corporation Sydney Branch (SMBC Sydney) (A/A1/A) launched a new 2.5-year, Australian dollar denominated, senior-unsecured, floating-rate note (FRN) transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 70 basis points area over three-month bank bills.
On 19 February, Latitude Financial Services (Latitude) launched its personal loans asset-backed securities (ABS) deal, Latitude Australia Personal Loans Series 2020-1 Trust. Indicative total volume for the deal, which is expected to price on 14 February, is A$500 million (US$335.1 million). Westpac Institutional Bank is arranger and joint lead manager alongside Commonwealth Bank of Australia and National Australia Bank.
On 10 February, Macquarie Bank launched its self-led refinancing of its residential mortgage-backed securities (RMBS) deal, Puma Series 2015-1. Pricing is expected on or before 14 February.