News
On 21 November, Sumitomo Mitsui Banking Corporation Sydney Branch (SMBC Sydney) (A/A1/A) revealed a book update for its three-year, Australian dollar denominated benchmark transaction, offered in either or both fixed- and floating-rate format. Indicative price guidance has been revised to 73-75 basis points area over swap benchmarks, after launching the day before with a margin range of 78 basis points area.
On 21 November, ING Bank Australia (ING Australia) began taking indications of interest for its residential mortgage-backed securities (RMBS) deal, IDOL 2019-1 Trust. The transaction is expected to launch in the week beginning 25 November, according to joint lead managers ANZ, ING, Macquarie Bank, Standard Chartered Bank and Westpac Institutional Bank.
Ford Motor Credit Company (FMCC) (BBB-/Ba1/BBB) launched a new five-year, Australian dollar denominated EMTN benchmark transaction on 21 November. Indicative price guidance for the forthcoming deal, which is expected to price on the day after launch, is 280 basis points area over semi-quarterly swap. ANZ, Deutsche Bank and Westpac Institutional Bank are leading.
On 21 November, Toyota Finance Australia (Toyota Australia) (AA-/Aa3) mandated ANZ and Commonwealth Bank of Australia to arrange a series of investor meetings in the week beginning 25 November regarding an Australian dollar denominated transaction, offered in either or both one- and three-year tenor.
Sumitomo Mitsui Banking Corporation Sydney Branch (SMBC Sydney) (A/A1/A) launched a three-year, Australian dollar denominated benchmark transaction on 20 November. Indicative price guidance for the forthcoming deal, offered in either or both fixed- and floating-rate note format, is 78 basis points area over swap benchmarks.
On 20 November, Bank Australia (BBB/Baa1) revealed plans for a new three-year, Australian dollar denominated, floating-rate note sustainability bond transaction. The deal is expected to launch in the near future, according to joint lead managers ANZ and National Australia Bank.
On 20 November, Sumitomo Mitsui Banking Corporation Sydney Branch (SMBC Sydney) (A/A1/A) revealed plans for a potential three-year, Australian dollar denominated transaction, offered in either or both fixed- and floating-rate format. Initial price guidance for the deal, which is expected to launch in the near future, is 80 basis points area over swap benchmarks.
On 19 November, Ford Motor Credit Company (FMCC) BBB-/Ba1/BBB mandated ANZ, Deutsche Bank and Westpac Institutional Bank for a potential four- or five-year Australian dollar denominated EMTN transaction.