News
On 8 April, Rentenbank (AAA/Aaa/AAA) launched a minimum A$50 million (US$35.5 million) increase to its April 2028 Kangaroo bond. The forthcoming transaction has indicative price guidance of 41 basis points area over semi-quarterly swap, equivalent to 49.5 basis points area over Australian Commonwealth government bond. Nomura is the sole lead manager.
BWP Trust issued in the Australian domestic market for a third time on 4 April, printing a seven-year deal that was heavily oversubscribed. There have been other pure corporate domestic deals at this maturity in 2019 and even though BWP Trust’s volume outcome was modest in comparison, deal sources insist other factors, including price, were as noteworthy.
On 8 April, Toyota Finance New Zealand (Toyota New Zealand) (AA-/Aa3) revealed plans for a new five-year domestic wholesale deal, to be led by ANZ.
The first week of April was highlighted by residential mortgage-backed securities deal flow, with Australian Finance Group's A$500 million (US$356.1 million) and Bluestone Group's A$400 million deals. Meanwhile, Edith Cowan University priced its debut transaction and Asian Development Bank tapped two Kangaroo lines and priced a new Kauri.
