News
On 23 August, Spark Finance (Spark) (A- by S&P) revealed plans for a new 10.5-year, Australian dollar denominated transaction. ANZ and Westpac Institutional Bank have been mandated to arrange a series of investor meetings in Sydney on 5 September and Melbourne on 6 September.
Mercedes-Benz Australia Pacific (Mercedes-Benz) (A/A2/A-) launched a new, indicative A$100 million (US$67.7 million) three-year EMTN transaction on 22 August. The deal is being marketed at 90 basis points area over semi-quarterly swap and is expected to price on the day of launch during London hours. Commonwealth Bank of Australia and TD Securities are leading.
On 22 August, EUROFIMA (AA+/Aa2) launched a minimum A$20 million (US$13.6 million) increase to its May 2029 Kangaroo bond. Indicative price guidance for the deal, which is expected to price on the day of launch, is 62 basis points area over semi-quarterly swap. Nomura is leading.
On 22 August, ANZ Banking Group (ANZ) (AA-/Aa3/AA-) launched a three- and five-year benchmark senior-unsecured domestic deal. The three-year floating-rate note tranche has indicative price guidance of 60 basis points area over three-month bank bills, while the five-year tranche will come in either or both fixed- and floating-rate formats and is being marketed at 80 basis points area over swap benchmarks. The self-led deal is expected to price as early as the day of launch.