News
On 25 July, New South Wales Treasury Corporation (TCorp) (AAA/Aaa) launched a new March 2031, Australian dollar denominated syndicated benchmark deal.The forthcoming deal has indicative price guidance of 66-70 basis points over the 10-year futures contract, equivalent to 59.7-63.7 basis points area over Australian Commonwealth government bond. The transaction is expected to price on or before 26 July, according to joint lead managers ANZ, Commonwealth Bank of Australia and UBS.
On 25 July, Royal Bank of Canada Sydney Branch (RBC Sydney) (AA-/Aa2) launched a domestic one-year floating-rate note (FRN) deal with indicative price guidance of 28 basis points area over three-month bank bills. Pricing is expected on the day of launch, according to lead manager RBC Capital Markets.
On 24 July, European Investment Bank (EIB) (AAA/Aaa/AAA) launched a minimum A$150 million (US$104.6 million) increase to its February 2028 Kangaroo climate-awareness bond. The forthcoming deal has indicative price guidance of 44 basis points area over semi-quarterly swap, equivalent to 50.25 basis points area over Australian Commonwealth government bond.
On 24 July, BNG Bank (AAA/Aaa/AAA) launched a minimum A$15 million (US$10.5 million) tap of its April 2029 Kangaroo bond, via Mizuho Securities. The forthcoming deal has indicative price guidance of 52 basis points area over semi-quarterly swap, equivalent to 59.75 basis points area over Australian Commonwealth government bond and is expected to price on the day of launch.
Reserve Bank of Australia (RBA) assistant governor, Christopher Kent, says adjustments to the committed liquidity facility (CLF) will reduce banks’ need for supplementary liquidity while ensuring strong incentives to manage liquidity risk appropriately remain in place.