Citi
Citibank’s opco deal provides diversity for Australian dollar market
Citibank, the operating company (opco) issuer of Citi, issued its first-ever Australian dollar deal on 10 May. The transaction came in 3(a)(2) format, which limits domestic bank-balance-sheet participation. However, deal sources say the scarcity value of opco debt from a global bank was enticing for domestic fund managers.
NAB preparing wholesale AT1 deal
On 8 July, National Australia Bank (NAB) (AA-/Aa3/AA-) announced plans for a perpetual non-call five-year, wholesale, additional tier-one (AT1) capital transaction. A fixed-income investor call regarding the floating-rate note deal is scheduled for the day of the announcement. The notes are expected to be rated BBB- by S&P Global Ratings.
TCorp prints A$300 million May 2042 bond
WATC prints new A$300 million 2041 line
Shoppers and investors returning for Scentre
The cautious but early emergence of Australia and New Zealand from the COVID-19 crisis enabled Scentre Group to convey a positive forecast to debt investors in its recent US dollar deal. The result, deal sources say, was an endorsement for the company and for the prospects of antipodean economic recovery.
AOFM lands record deal as market picture clears
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.
