News
Australian Catholic University (ACU) (Aa2) has disclosed plans to meet fixed-income investors to discuss a potential Australian dollar “sustainability bond” meetings. The meetings are to be held in Asia during the week beginning 3 July and in Australia the week beginning 17 July. National Australia Bank and UBS are arranging
On 27 June, Resimac disclosed plans to engage with investors around Resimac’s Premier prime residential mortgage-backed securities (RMBS) programme, with a view to launching a new RMBS deal subject to market conditions.
NWB Bank (NWB) (AAA/Aaa) launched a tap of its July 2027 Kangaroo on 26 June. The TD Securities-led increase is for minimum volume of A$15 million (US$11.4 million) and is being marketed in the area of 64 basis points over swap or 79 basis points over Australian Commonwealth government bond. Pricing is due on 27 June.
National Australia Bank (NAB) (AA-/Aa3/AA-) announced on 26 June that it plans to print a new five-year senior unsecured transaction in the domestic market. Initial price guidance on the forthcoming, self-led, deal is in the area of 90 basis points over swap, and it is expected to price by 30 June subject to market conditions.
Fleet Holdings NZ (Fleet NZ) launched FP Ignition Series 2017-B Trust on 26 June. The deal is a securitisation of vehicle receivables and according to KangaNews data will be the first public securitisation transaction in New Zealand this year.
Moody's Investors Service lowered its macro profile for Australia resulting in a one-notch downgrade of eight local banks and the four majors during the penultimate week of June. The downgrade extended to the New Zealand subsidiaries of the major banks and was driven by increased risk induced in part by elevated house prices. Elsewhere, Landesbank Baden-Wuerttemberg printed a A$300 million (US$266.6 million) tier-two EMTN and Peet completed the bookbuild on its latest simple corporate bond.
The issuer and arranger of an innovative mezzanine warehouse-funding transaction say the deal demonstrates the burgeoning scale of demand for higher-yielding securitisation notes. The A$40 million (US$30.2 million), class B tranche of zipMoney’s first securitisation warehouse facility was placed with more than 400 accounts according to the transaction’s arranger, FIIG Securities (FIIG).
On 23 June, Peet (NR) revealed it has completed the bookbuild on its offer of 5.25-year floating-rate notes. The bookbuild was oversubscribed, according to an announcement lodged with the Australian Securities Exchange (ASX), however Peet has elected to keep the offer size at A$50 million (US$37.7 million) leading to a scaling of applications.