News
Firstmac started taking indications of interest on a new residential mortgaged-backed securities (RMBS) transaction, Firstmac Mortgage Funding Trust No. 4 Series 2-2017 (Firstmac 2017-2), on 14 September. The forthcoming deal has indicative volume of A$500 million (US$400.1 million) and may launch as early as the week of 18 September.
Key statistics, issuer information and market access on key global borrowers - part two.
Key statistics, issuer information and market access on key global borrowers - part one.
Despite its maturity, the Australian dollar market continues to attract new supranational, sovereign and agency potential issuers and others returning after extended absences. While the path to a regular market presence requires a commitment to ongoing investor relations, new and returning issuers from recent years demonstrate that this effort can and does pay off.
KangaNews asked supranational, sovereign and agency issuers to respond to a survey of their global issuance patterns and funding profiles. Data compiled since the first iteration of this survey, conducted in 2014, suggests market usage has settled after a period of volatility – while the role of Australian and New Zealand funding has also matured.
All the up-to-date market trends in the Kangaroo and Kauri markets for supranational, sovereign and agency borrowers. Including issuance patterns, the latest green-bond developments and all-time Kangaroo intermediary league tables.
Suncorp-Metway disclosed initial price indications on its forthcoming Apollo Series 2017-2 residential mortgage-backed securities (RMBS) deal on 14 September. The seven-tranche transaction is for indicative volume of A$750 million (US$543.8 million). National Australia Bank is arranging and also acting as a lead manager alongside ANZ, Macquarie Bank and Westpac Institutional Bank.
Municipality Finance (MuniFin) (AA+/Aa1) mandated a minimum A$15 million (US$12 million) increase to its July 2027 Kangaroo on 14 September, via Nomura. The deal has an indicative margin of 62 basis points over swap or 73 basis points over Australian Commonwealth government bond.
Inter-American Development Bank (IADB) (AAA/Aaa) launched an increase to its February 2028 Kangaroo bond on 14 September. The J.P. Morgan-led transaction is for minimum volume of A$25 million (US$20 million) and is being marketed at 45 basis points over swap or 52.25 basis points over Australian Commonwealth government bond.
