News
On 24 July, Resimac revealed plans to engage with investors ahead of a potential prime residential mortgage-backed securities (RMBS) deal from its Premier programme, to include Australian and US dollar denominated tranches. Citi, Deutsche Bank and National Australia Bank have the mandate.
On 24 July, Canadian Imperial Bank of Commerce, Sydney Branch (CIBC Sydney) (A+/Aa2/AA-) launched a new three-year, Australian dollar denominated floating-rate note (FRN) covered-bond deal. Indicative price guidance for the forthcoming transaction, which is expected to price the day after launch, is 52 basis points area over three-month bank bills.
On 24 July, AusNet Services (AusNet) (A-/A3) launched a new 10-year, Australian dollar denominated benchmark deal. The transaction is being marketed at 135 basis points area over semi-quarterly swap. Pricing is expected on the day of launch, according to joint lead managers ANZ, HSBC and National Australia Bank.
L-Bank (AAA/Aaa/AAA) launched a A$50 million (US$35.1 million) minimum increase to its August 2025 Kangaroo bond on 23 July. The tap, which has Commonwealth Bank of Australia, Deutsche Bank, Nomura and RBC Capital Markets as leads, has an indicative margin of 48 basis points over semi-quarterly swap and is expected to price the day after launch.
The Australian major bank influx into tier-two issuance continued on 19 July as ANZ Banking Group (ANZ) printed a domestic transaction. The issuer says it was strategically important to execute a sizeable and successful Australian dollar deal shortly after the Australian Prudential Regulation Authority (APRA)’s total loss-absorbing capacity (TLAC) announcement, and that domestic investor participation was particularly pleasing.
On 23 July, QIC Shopping Centre Fund (A- by S&P) revealed plans to engage with investors on a potential Australian dollar denominated green bond. The issuer has mandated Commonwealth Bank of Australia and National Australia Bank to arrange a series of investor meetings in Asia and Australia in the week commencing 29 July ahead of a potential debut green-bond transaction.
NRW.BANK issued its largest-ever Kangaroo market deal, and its first in the mid-curve since 2006, with a A$450 million (US$316.3 million), five-year transaction that priced on 19 July. The issuer’s Dusseldorf-based director, capital markets funding, Tatjana Beuer, talks to KangaNews about an evolving relationship with the Australian dollar market.
Rentenbank (AAA/Aaa/AAA) launched a new 10.5-year, Kangaroo benchmark deal on 23 July. The transaction is being marketed at 45 basis points area over semi-quarterly swap, equivalent to 61.5 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to joint lead managers Nomura and TD Securities.