News
On 30 January, AusNet Services (AusNet) (A-/A3) revealed plans to meet with fixed-income investors in Asia and Australia regarding a possible 10.5-year domestic transaction. The meetings will begin on 31 January and will be arranged by ANZ, Commonwealth Bank of Australia, National Australia Bank and Westpac Institutional Bank.
The Australian Office of Financial Management (AOFM) completed its 10th residential mortgage-backed securities (RMBS) divestment auction on 30 January, selling 100 per cent of the securities on offer. The total amortised face value sold was A$361.6 million (US$292.1 million) across five lines of RMBS originally issued by Bank of Queensland, Bendigo and Adelaide Bank (BEN), Macquarie Bank and Suncorp.
On 30 January, African Development Bank (AfDB) (AAA/Aaa) launched a minimum A$300 million (US$242.9 million) 10.5-year Kangaroo bond via Daiwa Capital Markets. Indicative price guidance for the forthcoming transaction is 45 basis points area over semi-quarterly swap and 50.75 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch.
Newcastle Permanent Building Society (NPBS) (BBB/A3) launched a minimum A$100 million (US$80.9 million) five-year senior-unsecured floating-rate note (FRN) on 30 January. The forthcoming transaction is being marketed in the area of 145 basis points over three-month bank bills. Pricing is expected on the day after launch, via National Australia Bank and Westpac Institutional Bank.
On 30 January, Suncorp-Metway (Suncorp) (A+/A1/A+) launched a minimum A$100 million (US$80.9 million) senior-unsecured floating-rate note (FRN) transaction. Indicative price guidance for the forthcoming deal is 35 basis points area over three-month bank bills. Pricing is expected on the day of launch, according to lead manager ANZ.
Northern Territory Treasury Corporation (NTTC) (Aa2) launched a minimum A$50 million (US$40.5 million) syndicated increase to its November 2042 benchmark bond on 29 January. Indicative price guidance for the forthcoming tap is 90 basis points area over Australian Commonwealth government bond. Pricing is expected on the day after launch, according to lead manager UBS.
On 29 January, Toyota Finance Australia (Toyota Australia) (AA-/Aa3) announced plans to meet investors regarding a potential senior-unsecured Australian dollar transaction. The meetings will begin on 31 January, with an investor update call the following day, and will be arranged by ANZ, Commonwealth Bank of Australia and National Australia Bank.