News
Industrial and Commercial Bank of China Sydney Branch (ICBC Sydney) (A/A1/A) launched a three-year floating-rate note (FRN) domestic benchmark on 21 March. The forthcoming deal has indicative price guidance of 104 basis points area over three-month bank bills and is expected to price the day after launch, according to joint bookrunners ANZ, ICBC, National Australia Bank and Westpac Institutional Bank.
Pepper Group (Pepper) revealed plans to bring a new prime residential mortgage-backed securities (RMBS) transaction on 21 March, with tranches in Australian dollars and in US dollars in 144A and Reg S formats. Citi, Commonwealth Bank of Australia, National Australia Bank and Standard Chartered have been mandated to arrange a series of investor meetings in the US during the week beginning 25 March and in the week commencing 1 April in Australia.
The individuals recognised as the KangaNews Market People of the Year in the KangaNews Awards 2018 were revealed for the first time at the KangaNews Awards Gala Dinner in Sydney on 19 March. The individual categories in the KangaNews Awards were open to participants across the Australasian debt markets.
To coincide with the launch of a new credit income trust by Perpetual Investments (Perpetual), Michael Korber, head of credit and fixed income, and Anne Moal, senior high-yield analyst at Perpetual in Sydney, share their views on the state of play in the fixed-income market. The new trust provides investors with monthly income by investing in a diversified pool of credit and fixed-income assets.
On 21 March, Industrial and Commercial Bank of China, Sydney Branch (ICBC Sydney) (A/A1/A) began taking indications of interest for a new, three-year, Australian dollar denominated floating-rate note (FRN) transaction. The deal is being marketed at 104 basis points area over three-month bank bills and is expected to launch in the near future, according to joint bookrunners ANZ, ICBC, National Australia Bank and Westpac Institutional Bank.
Nordic Investment Bank (NIB) (AAA/Aaa) launched an increase to its May 2029 Kangaroo bond on 20 March, via J.P. Morgan. The tap is for minimum volume of A$25 million (US$17.7 million) and has an indicative margin of 44 basis points over semi-quarterly swap.