News
National Australia Bank printed A$2.25 billion (US$1.73 billion) in a 5.25-year senior domestic deal during the first days of November. Elsewhere, Northern Territory Treasury Corporation made a quick return to the syndicated market pricing A$155 million of November 2042-maturity bonds in its second deal in 10 days, and Bluestone Group completed its second public residential mortgage-backed securities deal of 2017.
On 3 November, Northern Territory Treasury Corporation (NTTC) (Aa2) launched a minimum A$100 million (US$77.1 million) syndicated benchmark bond. Indicative price guidance on the November 2042 maturity deal is 95 basis points area over Australian Commonwealth government bond. Pricing is expected on the same day as launch, according to joint lead managers ANZ and UBS.
On 2 November, Network Finance Company, the financing entity of Endeavour Energy Group (Endeavour Energy) (Baa1), revealed plans to meet with Australian and Asian fixed-income investors in a series of meetings to begin on 9 November. A senior-secured, Australian dollar-denominated transaction may follow, according to the meetings’ arrangers Commonwealth Bank of Australia and Mizuho Securities.
On 2 November, Eclipx Group (Eclipx) launched its new asset-backed securities (ABS) transaction, Turbo Series 2017-1 Trust. The forthcoming deal has indicative volume of A$351.5 million (US$271.2 million) and is expected to price on or before 8 November. ANZ is arranger, with National Australia Bank and Westpac Institutional Bank as additional lead managers.
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