News
On 1 February, South Australian Government Financing Authority (SAFA) (AA+/Aa1) revealed plans for a new, indicative A$750 million (US$545.4 million), May 2030 select line. The placement will be syndicated by Bank of America Merrill Lynch, National Australia Bank and UBS in the week commencing 11 February.
L-Bank (AAA/Aaa/AAA) launched an indicative A$100 million (US$72.5 million) increase to its June 2023 Kangaroo bond on 31 January. Price guidance is 48 basis points area over semi-quarterly swap or 65.5 basis points area over Australian Commonwealth government bond. Pricing is due on or before 1 February, via Commonwealth Bank of Australia, Deutsche Bank, Nomura and RBC Capital Markets.
Teachers Mutual Bank (Teachers Mutual) has taken its commitment to responsible investment a step beyond its peers, by having Responsible Investment Association Australasia (RIAA) certify its retail deposits, mortgages and wholesale funding. According to Teachers Mutual, the move could generate more than A$3.5 billion (US$2.5 billion) of socially responsible investments for the bank by 2021.
On 30 January, Rentenbank (AAA/Aaa/AAA) launched a minimum A$50 million (US$36 million) increase to its April 2028 Kangaroo bond, via Deutsche Bank. The forthcoming deal has indicative price guidance of 45 basis points area over semi-quarterly swap, equivalent to 52.5 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch.
On 30 January, ANZ Banking Group (ANZ) (AA-/Aa3/AA-) launched a new, Australian dollar denominated benchmark deal, to be comprised of a three-year floating-rate note and five-year tranches in either or both fixed-and floating-rate formats. The tranches are being marketed in the area of 90 and 113 basis points over swap benchmarks respectively.
On 29 January, Queensland Treasury Corporation (QTC) (AA+/Aa1) launched a new, syndicated domestic floating-rate note (FRN) transaction, due February 2023. The forthcoming deal has indicative price guidance of 20-22 basis points area over three-month BBSW and is 144a eligible. Pricing is expected on or before the day after launch, according to lead managers ANZ and Commonwealth Bank of Australia.
On 29 January, ANZ Banking Group (ANZ) (AA-/Aa3/AA-) mandated a self-led, Australian dollar denominated transaction, comprised of three- and five-year tranches. The three-year tranche will be in floating-rate format, while the five-year tranche will come in either or both fixed- and floating-rate formats. The deal is expected to launch and price in the near future.