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.
On 4 December, CNH Industrial Capital Australia (CNH Capital) (BBB/Baa3) launched an inaugural, A$100 million minimum, three-year transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 140 basis points area over semi-quarterly swap. ANZ and Citi are leading.
On 3 December, CNH Industrial Capital Australia (CNH Capital) (BBB/Baa3) began taking indications of interest for a debut three-year, Australian dollar denominated, benchmark transaction. Initial price guidance for the potential deal is 140 basis points area over semi-quarterly swap. ANZ and Citi are leading.
KangaNews is proud to present the winners of the institutional and deal categories in the KangaNews Awards 2019. After an extensive voting and verification process, KangaNews can confidently say its results reflect a true market view on the outstanding performers of 2019 in the Australian and New Zealand debt markets.
The return of 10-year issuance opportunities in the Australian corporate market brought another household name – Qantas Airways (Qantas) – to market on 20 November. Transaction sources say the deal had broad support domestically and abroad, and also featured a landmark for retail investor involvement in domestic debt-capital markets.