News
ASB Bank (AA-/A1/AA-) mandated Commonwealth Bank of Australia for a new five-year, New Zealand dollar denominated deal on 9 August. The transaction is expected to launch in the week beginning 12 August.
On 9 August, Australian Capital Territory (ACT) (AAA by S&P) mandated a new May 2025 Australian dollar denominated syndicated benchmark bond via ANZ, UBS and Westpac Institutional Bank. The transaction is expected to launch in the near future.
On 9 August, HSBC New Zealand (HSBC NZ) (AA-/Aa3) launched a new, three-year floating-rate note (FRN) and five-year fixed-rate domestic senior deal. Each tranche has a minimum volume of NZ$100 million (US$64.7 million). The three-year FRN is being marketed at 65-70 basis points over three-month bank bills, while the five-year tranche is being marketed at 85-90 basis points over mid swap.
On 8 August, Commonwealth Bank of Australia (CommBank) revealed plans to engage investors regarding the refinancing of A$1.0227 billion (US$693.1 million) Class A1 notes from its Medallion 2014-2 residential-mortgage backed securities (RMBS) deal.
On 7 August, Moody's Investors Service assigned provisional ratings to zipMoney's inaugural asset-backed securities (ABS) deal, Zip Master Trust Series 2019-1. Total indicative volume for the potential transaction is A$360 million (US$241.6 million). National Australia Bank was mandated to arrange investor meetings regarding the transaction on 29 July.
Asian Development Bank (ADB) (AAA/Aaa/AAA) launched a new five-year, minimum A$300 million (US$200.8 million) Kangaroo bond on 7 August. The forthcoming transaction is being marketed at 35 basis points area over semi-quarterly swap, equivalent to 45 basis points area over Australian Commonwealth government bond.