News
Beyond Bank disclosed that it has begun taking indications of interest for its Barton 2017-1 residential mortgage-backed securities (RMBS) on 6 July. Indicative volume for the deal is A$350 million (US$265.9 million) according to Westpac Institutional Bank, which is arranging alongside ANZ.
Metropolitan Life Global Funding (MetLife Funding) (AA-/Aa3) launched a minimum A$150 million 10-year secured transaction on 6 July. Initial price guidance is in the area of 130 basis points over semi-quarterly swap, with the transaction expected to price on day of launch according to lead managers ANZ, Commonwealth Bank of Australia, Deutsche Bank and National Australia Bank.
Australia’s latest issuer into the US dollar Reg S market, SGSP Australia Assets (SGSP), says the Asian parentage that previously opened the door to this regional market is likely no longer a prerequisite. The scale and quality of the Reg S bid means SGSP now includes this issuance option among its three core debt capital markets.
Queensland Treasury Corporation (QTC) (AA+/Aa1) launched a minimum A$500 million (US$380.7 million) increase to its August 2027 benchmark on 5 July. The deal is expected to price by 6 July according to lead managers Deutsche Bank, UBS and Westpac Institutional Bank.
International Finance Corporation (IFC) (AAA/Aaa) launched a capped increase of A$200 million (US$152.2 million) to its August 2022 Kangaroo bond and a minimum A$100 million increase to its October 2027 Kangaroo bond on 5 July. The transactions are being marketed at 31 basis points over semi-quarterly swap and 45 basis points over semi- quarterly swap respectively. They are expected to price by 6 July according to lead managers J.P. Morgan, Mizuho Securities and TD Securities.
Metropolitan Life Global Funding I (MetLife Funding) (AA-/Aa3/AA-) mandated a new 10-year Australian dollar transaction on 5 July. The deal is being marketed at 130 basis points over swap area according to its leads, ANZ, Commonwealth Bank, Deutsche Bank and National Australia Bank.
John Deere Financial (John Deere) (A/A2) mandated Westpac Institutional Bank on 4 July to organise a debt investor update call. The call is to take place on 12 July and a debt capital markets transaction is expected to follow subject to market conditions.
New Terminal Financing (BBB/Baa2), the funding vehicle for Adelaide Airport, launched a no-grow A$200 million (US$153.3 million), seven-year deal on 4 July. Initial price guidance on the deal is in the area of 150-155 basis points over swap, and it is expected to price on the day of launch according to lead managers ANZ and Westpac Institutional Bank.