News
Late in the Sydney day on 26 April, European Investment Bank (EIB) (AAA/Aaa/AAA) launched an indicative A$200 million (US$151.1 million) increase to its August 2024 Kangaroo line. The forthcoming deal is being marketed at 41 basis points area over semi-quarterly swap and 40 basis points area over Australian Commonwealth government bond. The transaction will price on 27 April, according to sole lead manager Nomura.
Inter-American Development Bank (IADB) (AAA/Aaa) launched a A$50 million (US$37.9 million) minimum increase to its 2023 Kangaroo bond on 26 April. Th tap, which has J.P. Morgan as lead, is being marketed at 32 basis points over semi-quarterly swap or 35 basis points over Australian Commonwealth government bond. It will price on day of launch.
Landesbank Baden-Württemberg (LBBW) (A1/A-) disclosed on 25 June that it will meet Asian investors with the aim of issuing an Australian dollar EMTN transaction in tier-two format, with a 10-year non-call five maturity. The investor meetings, which are being arranged by HSBC, LBBW, Standard Chartered and TD Securities, will commence on 2 May.
On 24 April, Province of Québec (Québec) (AA-/Aa2) launched a minimum A$35 million (US$26.6 million) tap of its October 2028 Kangaroo line. Indicative price guidance for the forthcoming transaction is 50 basis points area over semi-quarterly swap and 56.5 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to lead managers RBC Capital Markets and TD Securities.
On 24 April, FlexiGroup began taking indications of interest for its asset-backed securities (ABS) transaction, Flexi ABS Trust 2018-1. The deal has indicative total volume of A$300 million (US$228 million) and may launch in the week commencing 30 April, according to lead managers Commonwealth Bank of Australia and National Australia Bank.