News
Seek (NR) printed A$175 million (US$131.3 million) of five-year senior-unsecured floating-rate notes on 11 April. The transaction was upsized from indicative A$100 million (US$74.9 million) volume and printed at the tight end of 230-240 basis points area guidance over bank bill swap rate.
Lead managers on Telstra Corporation (Telstra)’s A$1 billion (US$752 million) multi-tranche domestic deal tell KangaNews that following a succession of smaller steps the domestic market has taken a giant leap forward with this latest transaction. According to KangaNews data, the deal is Telstra’s largest-ever domestic transaction and it contains the biggest 10-year non-credit-wrapped tranche issued by a nonfinancial corporate into Australia.
Telstra Corporation (Telstra)'s A$1 billion (US$752.2 million) domestic print, its largest-ever in the domestic market, was the highlight of the first week of April. Asciano joined the corporate pipeline soon after the Telstra transaction had priced, revealing plans to meet fixed-income investors in Australia and Asia over the course of the month.
On 7 April, Asciano (BBB-/Baa3), on behalf of Pacific National, revealed plans to meet fixed-income investors in Australia and Asia commencing on 11 April. The meetings’ arrangers – ANZ, Commonwealth Bank of Australia, Mizuho and National Australia Bank – say an Australian dollar-denominated capital-markets transaction may follow.
On 6 April, Telstra Corporation (Telstra) (A/A2) printed A$1 billion (US$755 million) in a multi-tranche, four- and 10-year, domestic deal. The transaction contains a A$550 million 10-year tranche which, according to KangaNews data, is the Australian market’s largest-ever true-corporate at this tenor.
On 5 April, unrated Centuria Capital Group (Centuria) priced a wholesale, senior-secured bond issue. According to an issuer statement lodged with the Australian Securities Exchange, the transaction was upsized from launch volume of A$50 million (US$38.2 million) and proceeds from the notes will be issued by Centuria Capital No. 2 Fund, a wholly owned subsidiary of Centuria.