News
Province of Alberta (Alberta) (A+/A1) launched a minimum A$50 million (US$39.8 million) increase to its April 2028 Kangaroo bond on 16 January, via RBC Capital Markets. The forthcoming transaction is being marketed at 60 basis points area over semi-quarterly swap, with pricing expected on or before 17 January.
The Australian Office of Financial Management (AOFM) (AAA/Aaa/AAA) launched a syndicated benchmark November 2029 nominal bond on 15 January, with initial price guidance of 7-10 basis points over the implied bid yield for the primary 10-year treasury bond futures contract. Citi, Commonwealth Bank of Australia, Deutsche Bank and UBS are leading the deal, which is expected to price the day after launch.
On 16 January, Kommunalbanken Norway (KBN) (AAA/Aaa) launched a minimum A$100 million (US$79.6 million) 10.5-year Kangaroo bond with indicative price guidance of 60 basis points area over semi-quarterly swap and 65.5 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to lead managers Daiwa Capital Markets, J.P. Morgan and TD Securities.
Rentenbank (AAA/Aaa/AAA) launched a minimum A$50 million (US$39.5 million) increase to its April 2028 Kangaroo bond on 15 January, via Deutsche Bank. Indicative price guidance for the forthcoming transaction is 46 basis points area over semi-quarterly swap and 50.25 basis points area over Australian Commonwealth government bond. The deal will price on the day of launch.
On 15 January, BNG Bank (AAA/Aaa/AA+) launched a minimum A$30 million (US$23.7 million) increase to its July 2028 Kangaroo bond. Indicative price guidance for the transaction is 63 basis points area over semi-quarterly swap and 69.75 basis points area over Australian Commonwealth government bond. The deal will price on the day of launch, according to lead managers Deutsche Bank, Nomura and RBC Capital Markets.
On 15 January, Tasmanian Public Finance Corporation (Tascorp) (AA+/Aa2) launched a 10-year syndicated benchmark transaction. The forthcoming deal is being marketed at 54-57 basis points over the 10-year futures contract and 57.5-60.5 basis points area over Australian Commonwealth government bond. Pricing is expected on the day after launch, according to lead managers ANZ, Commonwealth Bank of Australia and Deutsche Bank.
On 15 January, Bendigo and Adelaide Bank (BEN) (BBB+/A3/A-) launched a five-year domestic benchmark transaction. The forthcoming deal will be in either or both fixed- and floating-rate formats, with indicative price guidance in the area of 110 basis points over swap benchmarks. Pricing is expected on the day after launch, according to lead managers ANZ, Commonwealth Bank of Australia, National Australia Bank and Westpac Institutional Bank.