News
The latest iteration of the biannual Australian Fixed-Income Investor Survey, conducted by Fitch Ratings (Fitch) and KangaNews in the second half of March, suggests Australian fixed-income investors continue to believe credit fundamentals are robust even as their outlook becomes more cautious at the margin.
New Zealand’s green-bond market is still in its infancy, even though green issuance is potentially a natural fit for some of the biggest sectors of the economy. BNZ gathered market participants at a green bond seminar in Auckland in late April to discuss the challenges and how they can be addressed.
On 3 May, Pepper Group (Pepper) mandated Commonwealth Bank of Australia, National Australia Bank and Westpac Institutional Bank to engage investors regarding a potential Australian dollar-denominated prime residential mortgage-backed securities (RMBS) transaction.
On 3 May, Members Banking Group, operating as RACQ Bank (BBB+/Baa1) launched a minimum A$40 million (US$29.9 million) two-year domestic transaction. Indicative price guidance for the forthcoming deal is 110 basis points area over three-month bank bills. Pricing is expected on the day of launch, according to lead managers ANZ and National Australia Bank.
On 3 May, Aroundtown (BBB+/S&P) launched a debut seven-year senior-unsecured Australian dollar-denominated transaction, via Citi and UBS. Indicative price guidance for the forthcoming transaction is 200-205 basis points area over semi-quarterly swap. Pricing is expected on or before 4 May.
On 3 May, KfW Bankengruppe (KfW) (AAA/Aaa/AAA) launched a A$150 million (US$112.3 million) minimum increase of its April 2020 Kangaroo line, with price guidance of 20 basis points area over semi-quarterly swap and 26.75 basis points area over Australian Commonwealth government bond. RBC Capital Markets is leading the tap, which will price on or before 4 May.
On 2 May, following the launch of a self-led, five-year domestic deal earlier in the day, ANZ Banking Group (ANZ) (AA-/Aa3/AA-) disclosed indicative price guidance for the forthcoming transaction of 93 basis points area over swap benchmarks.
On 2 May, ANZ Banking Group (ANZ) (AA-/Aa3/AA-) launched a new, five-year senior-unsecured domestic benchmark transaction. The self-led deal is expected to price on the day of launch.
On 1 May, SGSP Australia Assets (SGSP) (A-/A3) revealed plans to meet investors in Australia, Asia and Europe regarding a possible 7-10 year benchmark Reg S transaction, to be denominated in Australian dollars, euros or US dollars. The meetings, to be arranged by Commonwealth Bank of Australia, HSBC, Mizuho Securities and Westpac Institutional Bank, will commence on 8 May.