News

On 9 August, Commonwealth Bank of Australia (CommBank) (AA-/Aa3/AA-) revealed plans for a multi-tranche, three- and five-year domestic transaction. Initial price guidance for the three-year tranche is 75 basis points area over swap benchmarks, while the five-year tranche is being marketed at 95 basis points area over swap benchmarks.

Police Bank (BBB/BBB+) launched an indicative A$15 million (US$11.1 million) one-year domestic floating-rate note (FRN) transaction on 9 August, via Westpac Institutional Bank. The forthcoming deal has indicative price guidance of 85 basis points area over three-month bank bills and is expected to price on the day of launch.

On 9 August, Sumitomo Mitsui Banking Corporation Sydney Branch (SMBC Sydney) (A/A1) launched its two-year Australian dollar denominated transaction. The deal will come in either or both of fixed- and floating-rate formats and is being marketed at 77 basis points area over swap benchmarks. Pricing is expected on the day of launch, according to lead managers ANZ, Commonwealth Bank of Australia, National Australia Bank, SMBC Nikko and Westpac Institutional Bank.

Late in the Sydney day on 8 August, L-Bank (AAA/Aaa) launched a minimum A$50 million (US$37.2 million) increase to its April 2028 Kangaroo bond. The forthcoming deal has indicative price guidance of 53 basis points area over semi-quarterly swap, equivalent to 59.25 basis points area over Australian Commonwealth government bond. Pricing is expected on 9 August, according to lead managers Commonwealth Bank of Australia, Deutsche Bank, RBC Capital Markets and Nomura.

On 8 August, Sumitomo Mitsui Banking Corporation Sydney Branch (SMBC Sydney) (A/A1) revealed plans for a new, two-year Australian dollar denominated deal to come in either or both of fixed- and floating-rate formats. The potential deal is being marketed at “high 70s” basis points area over swap benchmarks and is expected to launch in the near future.