News
On 4 September, Groupe BPCE (BPCE) (A+/A1/A+) launched a new five-year, Australian dollar denominated senior-preferred transaction, to come in either or both fixed- and floating-rate formats. Indicative price guidance for the forthcoming transaction, which is expected to price on the day of launch, is 105 basis points area over swap benchmarks. ANZ, Mizuho Securities, Natixis and TD Securities are leading.
On 3 September, Group BPCE (BPCE) (A+/A1/A+) revealed it is taking indications of interest for a potential five-year, Australian dollar denominated senior-preferred transaction. The potential deal has initial price guidance of 105 basis points area over swap benchmarks and is expected to launch in the near future, according to joint lead managers ANZ, Mizuho Securities, Natixis and TD Securities.
Anhesuer-Busch InBev (AB InBev), through its subsidiary FBG Finance, announced a consent solicitation process for its outstanding Kangaroo bonds on 3 September. The issuer is seeking approval 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.
Bendigo and Adelaide Bank (BEN) focused on price discipline in its latest deal through more challenging market conditions. The issuer says investor support remained robust, allowing it to meet its volume target without having to reassess its pricing goals.
EUROFIMA (AA+/Aa2) launched a minimum A$20 million (US$13.4 million) increase to its May 2029 Kangaroo bond on 3 September. Indicative price guidance for the forthcoming transaction is 62 basis points area over semi-quarterly swap, equivalent to 66.15 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to lead manager Nomura.
On 3 September, Kiwibank (A/A1/AA) revealed plans for a potential five-year senior-unsecured New Zealand dollar denominated transaction to institutional and retail investors. Westpac Banking Corporation New Zealand Branch has been mandated as arranger as well as joint lead manager alongside BNZ and Kiwibank. An investor conference call will be held on 9 September.
On 2 September, Mitsubishi UFJ Financial Group (MUFG) (A-/A1/A) mandated ANZ, Morgan Stanley, MUFG Securities, National Australia Bank and Westpac Institutional Bank to arrange a series of fixed-income investor meetings, including specifically environmental, social and governance (ESG)-focused investors, in Australia in the week beginning 9 September.
On 2 September, Toyota Finance New Zealand (Toyota NZ) (AA-/Aa3) launched an indicative NZ$100 million (US$63 million), five-year domestic wholesale deal. The forthcoming transaction has indicative price guidance of 80-85 basis points over mid swap. Pricing is expected on the day after launch, according to lead manager ANZ.
The final week of August saw Columbus Capital price an inaugural A$250 million (US$167.9 million) nonresident residential mortgage-backed securities deal. Meanwhile, Bendigo and Adelaide Bank priced a A$500 million five-year dual-tranche deal and Liberty Financial printed a A$200 million 3.5-year senior-unsecured floating-rate note transaction.