News
On 1 September, ME Bank began taking indications of interest on the A$460 million (US$365.2 million) class A notes of its latest residential mortgage-backed securities (RMBS) issue, SMHL Series 2017-1 RMBS. Initial price guidance is in the low 100 basis points area over one-month bank bills for the 2.6-year weighted-average life notes.
On 1 September, South Australian Government Financing Authority (SAFA) (AA/Aa1) revealed plans to tap its September 2022 select line for up to A$500 million (US$397.2 million) by syndication. Launch is earmarked for the week beginning 5 September, via lead managers ANZ, Commonwealth Bank of Australia, National Australia Bank and Westpac Institutional Bank.
The debut five-year domestic deal for Bank of Nova Scotia Australia Branch (BNS Australia) (A+/A1/AA-) progressed to launch on 31 August. Initial price guidance on the forthcoming deal, which is expected to emerge in either or both of fixed- and floating-rate format, is in the area of 95 basis points over swap benchmarks.
The seven-year domestic deal for GPT Wholesale Shopping Centre Fund (A-) progressed to launch on 31 August. Indicative pricing on the forthcoming A$100 million (US$79.1 million) minimum transaction is 145-150 basis points area over semi-quarterly swap, according to lead managers ANZ and National Australia Bank.