News
On 24 September, Western Australian Treasury Corporation (WATC) (AA+/Aa1) revealed plans for a new Australian dollar denominated October 2034 bond transaction, expected to launch in the near future, according to lead manager ANZ.
On 24 September, Bluestone Group (Bluestone) launched its residential mortgage-backed securities (RMBS) deal, Sapphire XXII Series 2019-2 Trust. Capped total volume is A$450 million (US$308.4 million), with pricing expected on or before 27 September. National Australia Bank is arranger and joint lead manager alongside Commonwealth Bank of Australia, Deutsche Bank and Macquarie Bank.
On 24 September, Volkswagen Financial Services Australia (Volkswagen Australia) began taking indications of interest on its asset-backed securities (ABS) deal, Driver Australia Six Trust. Bank of America Merrill Lynch and RBC Capital Markets are leading.
On 24 September, Mercedes-Benz Financial Services Australia (Mercedes-Benz Australia) mandated ANZ and MUFG Securities to engage Australian dollar asset-backed securities (ABS) investors in Sydney, Melbourne and London, regarding a potential inaugural transaction under its ABS programme Silver Arrow Australia.
On 24 September, Mitsubishi UFJ Financial Group (MUFG) (A-/A1/A) launched a new five-year, Australian dollar denominated, total loss-absorbing capacity (TLAC)-eligible, benchmark green-bond transaction, to come in either or both fixed- and floating-rate format. Indicative price guidance for the deal, which is expected to price on the day of launch, is 128 basis points area over swap benchmarks.
Pacific National printed Australia’s largest 10-year corporate bond so far this year and the issuer’s largest in the domestic market on 18 September. Deal sources say the transaction makes clear once again that domestic support for 10-year corporate paper is available for issuers willing to test it.
On 23 Septmber, Downer Group Finance (Downer) (BBB by Fitch) mandated Westpac Institutional Bank for a potential tap of its April 2026 domestic line.
On 23 September, Bank of Communications Sydney Branch (BoCom Sydney) (A-/A2/A) mandated ANZ and National Australia Bank to arrange an Australian investor roadshow beginning 8 October regarding a potential Australian dollar denominated transaction.