News
Resimac says demand fundamentals remained sound for its return to prime residential mortgage-backed securities (RMBS) issuance via the Premier programme. The issuer highlights changing global demand patterns, however, and says it is prepared for more challenging funding conditions should they emerge.
On 29 August, Suncorp-Metway (Suncorp) (A+/A1/A+) launched a one-year Australian dollar denominated floating-rate note (FRN) deal. Indicative price guidance for the forthcoming transaction is 43 basis points area over three-month bank bills. Pricing is expected on the day of launch, according to joint lead managers ANZ and Commonwealth Bank of Australia.
Liberty Financial (Liberty) (BBB- by S&P) launched a minimum A$100 million (US$67.4 million) 3.5-year senior-unsecured floating-rate note (FRN) deal on 29 August, with indicative price guidance of 265 basis points area over three-month bank bills. Pricing is expected on the day of launch, according to lead managers Deutsche Bank, National Australia Bank and Westpac Institutional Bank.
On 29 August, Toyota Finance New Zealand (Toyota NZ) (AA-/Aa3) mandated ANZ as lead manager for a new five-year domestic wholesale deal.
The inaugural asset-backed securities (ABS) transaction from Zipmoney (Zip) is – according to the deal’s arranger – the world’s first-ever master trust securitisation of buy-now-pay-later (BNPL) receivables. The issuer says establishing the funding vehicle will provide it with flexibility and efficiency to support continued growth and that the debut deal was well received by investors hungry for diversified, high-yielding product.