News
On 19 September, Banco Santander (A/A2/A-) began taking indications of interest for a potential new five-year, Australian dollar denominated senior-preferred EMTN deal. Initial price guidance for the transaction is 125 basis points area over swap benchmarks, according to joint lead managers Nomura and TD Securities.
Anhesuer-Busch InBev (AB InBev), through its subsidiary FBG Finance, announced the results of the consent solicitation process for its outstanding Kangaroo bonds on 18 September. Bondholders granted approval for the company to substitute the existing issuer name with a new one, AB InBev Worldwide, and the consequent removal of the new issuer as a guarantor of the notes as a result of the divestiture of Carlton United Breweries by AB InBev.
BNG Bank (AAA/Aaa/AAA) launched a minimum A$20 million (US$13.7 million) increase to its July 2028 Kangaroo bond on 18 September. Indicative price guidance for the forthcoming transaction, which is expected to price on the day of launch, is 51 basis points area over semi-quarterly swap, equivalent to 50.6 basis points area over Australian Commonwealth government bond. RBC Capital Markets is leading.
On 18 September, Australian Finance Group (AFG) mandated ANZ, National Australia Bank and United Overseas Bank to arrange an offshore and domestic roadshow in the weeks beginning 30 September and 14 October, respectively, regarding a potential Australian dollar residential mortgage-backed securities (RMBS) deal.
On 18 September, Bluestone Group (Bluestone) began taking indications of interest for its new residential mortgage-backed securities (RMBS) deal, Sapphire XXII Series 2019-2 Trust. Indicative total volume is A$450 million (US$308.4 million), with the launch expected in the week beginning 23 September. National Australia Bank is arranger.