News
DEXUS Property Group (DEXUS) (A-/A3) is preparing to host a series of investor meetings in Australia and Asia during the week commencing August 24. The meetings' arrangers, ANZ and National Australia Bank, say a "capital markets transaction may follow".
The Export-Import Bank of Korea (Kexim) (A+/Aa3/AA-) priced a new 5.5-year Kangaroo bond on August 12. According to KangaNews data, this is the first time the borrower has visited the Australian dollar market since November last year and just the second Korean-origin Kangaroo of 2015. Industrial Bank of Korea issued in February.
Tasmanian Public Finance Corporation (Tascorp) (AA+/Aa1) priced a new February 2026 fixed-rate benchmark issue in the Australian market on August 12. The deal is the issuer's first syndicated transaction for 2015.
Bendigo and Adelaide Bank (BEN) (A-/A2/A-) launched and priced its first senior-unsecured benchmark deal of the year on August 11, following its mandate on August 10. The five-year floating-rate transaction priced at guidance of 110 basis points over bank bills.
Resimac priced its second residential mortgage-backed securities (RMBS) issue of 2015 on August 11. Resimac Premier Series 2015-1 has a total volume of A$500 million (US$366.9 million) across four tranches and is backed by a pool of prime Australian residential mortgages.
Corporación Andina de Fomento (CAF) (AA-/Aa3/AA-) priced the second tap to its June 2025 Kangaroo bond on August 11. According to KangaNews data, the deal is the second increase to CAF's longest-dated Kangaroo line, which was introduced on May 27 this year for volume of A$150 million (US$111 million) and pricing of 165.25 basis points over Australian government bond (ACGB).
The Australian Office of Financial Management (AOFM) priced a new 1.25 per cent August 2040 bond via syndication on August 11. The AOFM targeted an initial issue size no larger than the final volume of A$1.25 billion (US$917.8 million). Initial price guidance for the forthcoming deal was a spread of 14-18 basis points over the August 2035 inflation-linked Treasury bond.
On August 10, Aurizon Network (Aurizon) (BBB+/Baa1) announced that it will update its Australian dollar debt investors commencing on August 19. Although the meetings are to update investors following the company's 2015 annual results, arrangers ANZ, Commonwealth Bank and National Australia Bank say a capital markets transaction may also follow.
Queensland Treasury Corporation kicked off Australian deal flow for the first week of August, with a A$1.25 billion (US$920.5 million) syndicated increase of its 2025 benchmark bond, while flow in New Zealand sustained a steady pace. Elsewhere, Resimac readied its second RMBS of 2015.