News
On 1 December, South Australian Government Financing Authority (SAFA) (AA/Aa1) revealed plans for an indicative A$750 million (US$567.4 million) syndicated tap of its July 2026 select line. HSBC, RBC Capital Markets and UBS will lead the transaction, which is expected to launch and price during the first half of December.
Macquarie Group (Macquarie) (BBB/A3/A-) revealed on 30 November that it plans to conduct a series of meetings with investors in relation to an Australian dollar-denominated deal in either or both of senior callable and bullet benchmark format. The transaction may launch as early as week beginning 4 December, the meetings' arrangers ANZ, Commonwealth Bank of Australia, Macquarie Bank, National Australia Bank and Westpac Institutional Bank, add.
National Australia Bank (NAB) (AA-/Aa3/AA-) launched an indicative A$100 million (US$75.9 million) seven-year euro medium term note (EMTN) on 30 November. The forthcoming deal has indicative price guidance of 85 basis points area over swap rates. HSBC joins NAB as bookrunner for the transaction.
On 30 November, Pepper Australia (Pepper) began taking indications of interest in relation to the Class A1-S, A1-L, A2 and B of a new prime residential mortgage-backed securities (RMBS) transaction, Pepper I-Prime 2017-3. The transaction has indicative total volume of A$400 million (US$302.7 million). Launch is expected in the week commencing 4 December, according to arranger National Australia Bank and additional lead managers Commonwealth Bank of Australia and Westpac Institutional Bank.
On 30 November, Think Tank Commercial Property Finance (Think Tank) began taking indications of interest for its first commercial mortgage-backed securities (CMBS) transaction of 2017, Think Tank 2017-1. The transaction has indicative total volume of A$300 million (US$226.9 million). Commonwealth Bank of Australia is arranging and leads alongside Westpac Institutional Bank.
Energy Partnership Gas, the financing arm of Multinet Gas (BBB+/S&P), launched a new seven-year Australian dollar-denominated transaction on 30 November. Indicative price guidance is 130 basis points area over semi-quarterly swap. Pricing is expected on or before 1 December, according to joint lead managers ANZ and Mizuho Securities.
On 30 November, ANZ Banking Group (ANZ) (AA-/Aa3/AA-) launched a new, one-year domestic benchmark floating-rate note (FRN) transaction. The self-led deal has indicative price guidance of 25 basis points area over three-month bank bills and pricing is expected on the day of launch.