Australian Office of Financial Management
The Australian Business Securitisation Fund (ABSF) passed both houses of parliament on 3 April and received royal assent on 5 April. The initiative – which directs the Australian Office of Financial Management (AOFM) to increase the availability of finance to SMEs – now enters the final stages of planning before becoming operational on 1 July 2019.
On 22 May, the Australian Office of Financial Management (AOFM) released an update on its 2019/20 issuance programme, with gross issuance of Treasury Bonds expected to be A$130 billion (US$85.2 billion), up from an estimate of A$55 billion on 17 December 2019.
The Australian Office of Financial Management (AOFM) and Australian Securitisation Forum (ASF) are finalising terms for a forbearance special-purpose vehicle (SPV), designed to provide relief to nonbank and small bank lenders with securitisation trusts affected by forbearance on loans as a result of COVID-19.
The Australian Office of Financial Management (AOFM)’s December 2030 syndication provided an opportunity to test capacity amid what the issuer says are greatly improved market conditions.
On 12 May, Australian Office of Financial Management (AOFM) (AAA/Aaa/AAA) launched a new December 2030, syndicated, benchmark, treasury bond. The forthcoming deal is being marketed at 7-10 basis points area over 10-year futures contract, with pricing expected on the day after launch. ANZ, Citi, Commonwealth Bank of Australia and UBS are leading.
HIGH-GRADE ISSUERS YEARBOOK 2020
The ultimate guide to Australian and New Zealand government-sector borrowers.