News
ING Bank Australia (ING Australia) has issued its second domestic covered-bond transaction. The borrower tells KangaNews funding diversification was the primary driver but it aims to be a regular issuer in the format.
On 13 August, Western Australian Treasury Corporation (WATC) (AA+/Aa1) launched a new February 2024, Australian dollar denominated syndicated benchmark floating-rate note (FRN) deal. Indicative price guidance for the forthcoming transaction, which is expected to price the day after launch, is 21-24 basis points area over three-month bank bills.
On 12 August, Commonwealth Bank of Australia (CommBank) launched a self-led refinancing of the A$1.0227 billion (US$693.1 million) Class A1 notes from its Medallion 2014-2 residential-mortgage backed securities (RMBS) deal.
Western Australian Treasury Corporation (WATC) (AA+/Aa1) revealed plans for a new February 2024, Australian dollar denominated syndicated floating-rate note (FRN) deal on 12 August. The transaction is expected to launch in the near future, according to joint lead managers Commonwealth Bank of Australia and National Australia Bank.
On 12 August, Australian Capital Territory (ACT) (AAA by S&P) launched a new long five-year, Australian dollar denominated syndicated benchmark deal. Indicative price guidance for the transaction is 49-52 basis points area over the three-year futures contract, equivalent to 41.25-44.25 basis points area over Australian Commonwealth government bond.
Housing New Zealand (Housing NZ) (AA+ by S&P) disclosed on 12 August that it will proceed with increases to its 2025 and 2028 benchmarks in September, via ANZ and Westpac Banking Corporation New Zealand Branch. The taps had been expected to follow an investor call in early July but were postponed following the appointment of a new minister for housing and urban development at the end of June.
The first full week of August saw QIC Shopping Centre Fund bring its debut A$300 million (US$204.3 million) green-bond deal to the Australian market. Meanwhile, ING Bank Australia printed a A$750 million dual-tranche covered bond and two asset-backed securities deals were priced in the New Zealand market.
QIC Shopping Centre Fund defied volatile market conditions to exceed volume and pricing expectations in its first-ever green bond, which priced on 7 August. The issuer says the deal was the culmination of a significant process towards delivering sustainability outcomes and its result highlights the benefits of green, social and sustainability (GSS) bond issuance.