News
Kommunalbanken Norway (KBN) (AAA/Aaa) launched a tap of its May 2021 Kauri floating-rate note (FRN) on 8 August, having launched an increase to its April 2021 Kangaroo bond on the previous day. Indicative price guidance for the forthcoming deal is 34 basis points area over three-month bank bills.
On 8 August, Northern Territory Treasury Corporation (NTTC) (Aa2) revealed plans for a benchmark syndicated transaction, in a new bond line due May 2030. The potential deal will be led by ANZ, National Australia Bank and UBS.
On 8 August, HSBC Sydney Branch (HSBC Sydney) (AA-/Aa3) launched a benchmark three-year domestic transaction. The forthcoming deal will come in either or both fixed- and floating-rate formats and is being marketed at 75 basis points area over swap benchmarks. Pricing is expected on the day of launch, according to lead managers Commonwealth Bank of Australia, HSBC and Westpac Institutional Bank.
Late in the Sydney day on 7 August, Kommunalbanken Norway (KBN) (AAA/Aaa) launched an increase to its April 2021 Kangaroo bond. The forthcoming deal is being marketed at 33 basis points area over semi-quarterly swap, equivalent to 35 basis points area over Australian Commonwealth government bond. Pricing is expected on the day after launch, according to lead manager Deutsche Bank.
CNH Industrial Capital Australia (CNH Capital) launched its asset-backed securities (ABS) transaction, CNH 2018-1, on 7 August. The deal has indicative total volume of A$350 million (US$259.9 million). Pricing is expected on or before 10 August, according to arranger ANZ, which also leads alongside RBC Capital Markets.
On 7 August, Bank Australia (BBB/Baa1) mandated ANZ to arrange fixed-income investor meetings, to take place in Sydney and Melbourne during the week commencing 13 August. An inaugural three-year Australian dollar denominated sustainability bond transaction may follow.
Liberty Financial (Liberty) launched its Liberty Series 2018-1 SME Trust asset-backed securities transaction on 7 August. The deal has indicative total volume of A$400 million (US$296.8 million) and is expected to price on or before 10 August.
On 7 August, Resimac launched its minimum A$500 million (US$370.8 million) equivalent residential mortgage-backed securities (RMBS) transaction, Bastille Trust Series 2018-1NC (Bastille 2018-1NC). The deal includes the US dollar denominated Class A1 notes and is expected to price on or before 10 August.
On 7 August, Toyota Finance Australia (Toyota Australia) (AA-/Aa3) launched a benchmark two-year domestic transaction. The forthcoming deal will be in either or both fixed- and floating-rate formats and is being marketed at 65 basis points area over swap benchmarks. Pricing is expected on the day after launch, according to lead managers ANZ, Commonwealth Bank of Australia and National Australia Bank.