News
On 12 September, Pepper Group (Pepper) mandated Citi, Commonwealth Bank of Australia and National Australia Bank to arrange a series of investor meetings, commencing 18 September, in Australia and the US. A prime residential mortgage-backed securities (RMBS) transaction, with Australian dollar and US dollar denominated tranches in 144A and Reg S formats, may follow.
On 12 September, Société Générale (SocGen) (A/A1/A) revealed plans for an Australian dollar denominated, five-year senior nonpreferred transaction, to come in either or both fixed- and floating-rate formats. Initial price guidance for the deal is 165 basis points area over swap benchmarks. The deal expected to be rated Baa2/BBB+/A and is expected to launch in the near future and price on 13 September.
On 12 September, Liberty Financial (Liberty) mandated Bank of America Merrill Lynch, Commonwealth Bank of Australia, Deutsche Bank, National Australia Bank and Westpac Institutional Bank for a possible residential mortgage-backed securities (RMBS) transaction. The potential deal will be denominated in Australian dollars and euros, and may launch as early as the week commencing 24 September.
On 12 September, GPT RE (A/A2), the responsible entity for General Property Trust (GPT), launched a new, minimum A$100 million (US$71.2 million) six-year deal. Indicative price guidance for the forthcoming transaction is 135 basis points area over semi-quarterly swap, with pricing expected as early as the day of launch.
