News
On 15 August, Northern Territory Treasury Corporation (NTTC) (Aa2) launched its new, May 2030 syndicated benchmark transaction. Indicative price guidance for the forthcoming deal is 83-86 basis points over the 10-year futures contract, equivalent to 78.25-81.25 basis points area over Australian Commonwealth government bond.
NWB Bank (AAA/Aaa) launched an indicative A$25 million (US$18.2 million) tap of its July 2028 Kangaroo bond on 14 August, via Mizuho Securities. The forthcoming deal is being marketed at 54 basis points area over semi-quarterly swap, equivalent to 61.75 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch.
On 14 August, DBS Bank Australia Branch (DBS Australia) (AA-/Aa1/AA-) launched a benchmark three-year domestic floating-rate note (FRN) transaction, with indicative price guidance of 75 basis points area over three-month bank bills. Pricing is expected on the day of launch, according to lead managers Commonwealth Bank of Australia, DBS Bank, National Australia Bank and Westpac Institutional Bank.
On 13 August, L-Bank (AAA/Aaa) launched a minimum A$100 million (US$72.7 million) increase to its February 2021 Kangaroo bond. Indicative price guidance for the forthcoming deal is 37 basis points area over semi-quarterly swap and 45 basis points area over Australian Commonwealth government bond. Pricing is expected on the day after launch, according to joint lead managers Commonwealth Bank of Australia, Deutsche Bank, RBC Capital Markets and Nomura.
DBS Bank Australia Branch (DBS Australia) (AA-/Aa1/AA-) mandated Commonwealth Bank of Australia, DBS Bank, National Australia Bank and Westpac Institutional Bank for a potential three-year domestic benchmark deal on 13 August. According to the leads, the floating-rate deal is expected to launch in the near future.
Z Energy (NR) revealed on 13 August that it is considering an offer of six-year, unsubordinated fixed-rate bonds to institutional and retail investors in New Zealand. The forthcoming secured deal will be issued under same-class exemption regulation and quoted on the NZX.