News
Verizon Communications made its debut into the Australian dollar market during the first week of August, netting A$2.2 billion (US$1.76 billion) in four tranches. Meanwhile, UBS Australia Branch printed A$1.7 billion in a three-year dual-tranche domestic deal.
Verizon Communications (Verizon) (BBB+/Baa1/A-) launched a new multi-tranche Australian dollar-denominated Kangaroo bond on 3 August.
CNH Industrial Capital Australia (CNH Capital) is taking indications of interest on its CNH Industrial Capital Australia Receivables Trust Series 2017-1 asset-backed securities (ABS) transaction.
UBS Australia Branch (UBS Australia) (A+/A1/A+) launched a new Australian dollar-denominated, three-year benchmark bond on 2 August. The forthcoming deal has initial price guidance in the area of 75 basis points over three-month bank bill swap rate and semi-quarterly swap.
Macquarie Bank (Macquarie) is taking indications of interests for the class A notes of its Puma Series 2017-1 residential mortgage-backed securities (RMBS) transaction. The class A notes have indicative volume of A$500 million (US$401.9 million) with a maximum issuance of A$1 billion. Initial price guidance is in the area of 100 basis points over one-month bank bills for a weighted average life of 2.6 years.
KfW Bankengruppe (KfW) (AAA/Aaa) revealed on 31 July that it has mandated banks to arrange a A$200 million (US$159.5 million) minimum tap to its July 2020 Kangaroo green bond. The forthcoming deal is being marketed at 18 basis points area over semi-quarterly swap and will price in the near future, according to lead managers RBC Capital Markets and TD Securities.
Australian Catholic University (ACU)’s sustainability bond – the first for an Australian issuer and for a university anywhere in the world – is another critical step forward in building the local market for socially responsible investment (SRI), the deal’s arranger insists. The deal also underlines the domestic market’s capability, relative to other options, in providing reliable SRI funding.
ME Bank mandated an Australian dollar-denominated, prime residential mortgage-backed securities (RMBS) offering under its SMHL programme on 31 July. ANZ, Deutsche Bank, National Australia Bank and Westpac Institutional Bank will lead any forthcoming transaction.