RBC
FI issuance returns to Australian market with three years the focus
Benchmark financial institution (FI) issuance returned to the Australian domestic market in July, with a total of A$3.9 billion (US$2.9 billion) printed across a trio of public three-year deals. With market volatility limiting FI issuance in preceding weeks, deal sources say a build up in investor cash as well as issuer willingness to execute at investors’ preferred tenor drove the transactions.
NWB Bank prices A$75 million July 2028 Kangaroo tap
NWB Bank launches increase to July 2028 Kangaroo bond
On 6 December, NWB Bank (AAA/Aaa) launched a minimum A$60 million (US$43.5 million) increase to its July 2028 Kangaroo bond. The forthcoming deal has indicative price guidance of 47 basis points area over semi-quarterly swap, equivalent to 50.75 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to lead manager RBC Capital Markets.
RBC Sydney prices A$500 million one-year domestic deal
RBC Sydney launches benchmark one-year deal
On 23 November, Royal Bank of Canada Sydney Branch (RBC Sydney) (AA-/Aa2) launched a new, benchmark one-year domestic deal with indicative price guidance of 50 basis points area over three-month bank bills. Pricing is expected on the day of launch, according to lead manager RBC Capital Markets.
World Bank prices A$300 million seven-year Kangaroo green bond
