News

Export Finance and Insurance Corporation (Efic) (AAA/S&P) launched a new, minimum A$100 million (US$77.5 million) 10.5-year syndicated deal on 12 April, via UBS. The forthcoming deal, expected to price on the day of launch, has indicative price guidance of 45 basis points area over the 10-year futures contract.

Western Australian Treasury Corporation (WATC) (AA+/Aa2) launched a new, 10-year syndicated benchmark bond on 12 April. The forthcoming deal is being marketed at 63-67 basis points area over the 10-year futures contract. Pricing is expected on the day after launch, according to lead managers Commonwealth Bank of Australia, Citi, Deutsche Bank and UBS.

On 12 April, Suncorp-Metway (Suncorp) began taking indications of interest for its residential mortgage-backed securities (RMBS) transaction, Apollo Series 2018-1. The deal has an indicative total volume of A$750 million (US$582.2 million) and is expected to launch on 16 April.

Province of Québec (Québec) (AA-/Aa2) launched a new, minimum A$50 million (US$38.8 million), 10.5-year Kangaroo bond on 11 April, via RBC Capital Markets and TD Securities. The forthcoming transaction is being marketed at 50 basis points area over semi-quarterly swap and 58.25 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch.

On 11 April, Western Australian Treasury Corporation (WATC) (AA+/Aa2) revealed plans for a new, 10-year syndicated benchmark deal. The transaction, to be led by Commonwealth Bank of Australia, Citi, Deutsche Bank and UBS, is expected to launch in the near future.