Air New Zealand completes its latest domestic deal

On October 20, Air New Zealand (Baa2) printed NZ$50 million (US$36.1 million) in its latest domestic transaction. Final pricing came in at 180 basis points over mid-swap - the mid-point of indicative pricing of 175-185 basis points over mid-swap. According to a NZX announcement, proceeds from the transaction will be used for general corporate purposes, including partial repayment of Air New Zealand’s existing bonds maturing on November 15 this year.

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Teachers Mutual prints A$100 million in a new three-year ethical bond [UPDATED]

Teachers Mutual Bank (Teachers Mutual) (BBB+/A3) priced A$100 million (US$76.9 million) of three-year notes in its latest domestic deal on October 20. The transaction priced at the tighter end of intiial guidance of 140-145 basis points over three-month bank bill swap rate (BBSW). According to KangaNews data, Teachers Mutual was most recently in the Australian market in November 2014, when it printed A$70 million of three-year notes at 105 basis points over BBSW.

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Citigroup upsizes and prices its senior global deal [UPDATED]

On October 20, Citigroup (BBB+/Baa1/A) printed an upsized volume of A$550 million (US$422.3 million) from a minimum volume of A$150 million, in a seven-year SEC-registered global senior-unsecured transaction. Initial price guidance on the deal wasin the area of 175 basis points over semi-quarterly swap.

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Liberty prints A$500 million in its second prime and nonconforming RMBS transaction of the year [UPDATED]

Liberty Financial (Liberty) has printed A$500 million (US$384.5 million) in its latest residential mortgage-backed securities (RMBS) transaction – its second prime and nonconforming deal of the year. The transaction priced in line with initial price guidance disclosed on October 17. 

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Melbourne Airport’s 10-year domestic deal progresses to launch

Australia Pacific Airports Corporation (Melbourne Airport)’s (A-/A3) minimum A$100 million (US$77.2 million) 10-year domestic transaction progressed to launch on October 20. Initial price guidance on the transaction is 175 basis points over semi-quarterly swap. According to KangaNews data, Melbourne Airport last issued in the domestic market in November last year when it printed A$120 million of 10-year notes at 175 basis points over semi-quarterly swap.

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Latest Issue 2016 October-November

Lastest Issue

KangaNews’s annual Australian corporate focus homes in on the changing face of the domestic bond market. Full coverage of the KangaNews-BNZ New Zealand roundtable. Australian banks and one-year funding. European market pulse. Biannual Australian investor survey.