News
Australian Capital Territory (ACT) (AAA/S&P) launched a new, Australian dollar-denominated, 10-year syndicated benchmark transaction on 9 April. Indicative price guidance for the forthcoming deal is 52-56 basis points area over the 10-year futures contract, equivalent to 53.5-57.5 basis points area over Australian Commonwealth government bond.
On 9 April, Bank of China New Zealand (BoC NZ) (A/A1) launched a domestic deal as part of Bank of China (BoC)’s planned multicurrency transaction under the “One Belt, One Road” initiative. The deal will come in either or both of three-year floating-rate format, with indicative price guidance in the area of 110-120 basis points over three-month bank bills, and five-year fixed-rate format, being marketed in the area of 130-140 basis points over mid-swap.
The short week following Easter was highlighted in Australia by AMP Bank's A$300 million (US$230.6 million) two-year floating-rate note transaction. Elsewhere, Volkswagen Financial Services printed A$699 million in its Driver Australia Five auto asset-backed securities deal.
On 6 April, Resimac revealed it has mandated National Australia Bank and Westpac Institutional Bank to engage with investors regarding a potential transaction from its Premier residential mortgage-backed securities (RMBS) programme.
On 6 April, Australian Capital Territory (ACT) (AAA/S&P) revealed plans for a new, Australian dollar-denominated, 10-year syndicated benchmark transaction, to be led by ANZ, UBS and Westpac Institutional Bank. The deal is expected to launch in the near future.
On 6 April, NWB Bank (AAA/Aaa) launched an indicative A$15 million (US$11.5 million) increase to its July 2028 Kangaroo line, via Mizuho Securities. The forthcoming transaction has indicative price guidance of 53 basis points area over semi-quarterly swap and 61 basis points area over Australian Commonwealth government bond. The deal will price on the day of launch.
With Tabcorp having been absent from capital markets since 2012, Stuart Roe, Tabcorp’s Melbourne-based general manager, corporate finance, discusses market selection in the wake of the company’s return. The US$1.4 billion US private placement (USPP) deal, priced in the early hours of 23 March, is the second-largest USPP by an Australian-origin issuer, according to KangaNews data.