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.
Qantas prints A$125 million October 2026 tap
Qantas launches October 2026 tap
On 22 September, Qantas Airways (Baa2) launched a A$50-150 million (US$36.1-108.2 million) increase to its October 2026 line. Indicative price guidance for the deal, which is expected to price on the day of launch, is 385 basis points area over semi-quarterly swap. Citi, Commonwealth Bank of Australia, National Australia Bank and Westpac Institutional Bank are leading.
SCA Property issues A$50 million dual-tranche transaction
Qantas prints A$500 million September 2030 transaction
Qantas launches 10-year domestic benchmark transaction
Qantas Airways (Baa2) launched a new 10-year, Australian dollar denominated, benchmark transaction on 31 August. The forthcoming deal is being marketed at 450 basis points area over semi-quarterly swap and is expected to price on the day after launch. Citi, Commonwealth Bank of Australia, National Australia Bank and Westpac Institutional Bank are leading.
