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.
AMP Life prints A$300 million 15NC5 tier-two deal
AMP Life launches 15NC5 tier-two FRN
AMP Life (A-/A3), part of the Resolution Life Group, launched a new Australian dollar denominated, 15-year non-call five-year (15NC5), tier-two, benchmark, floating-rate note (FRN) transaction on 1 December. The forthcoming deal is being marketed at 350 basis points area over three-month bank bills and is expected to price on the day of launch.
Ampol prices A$500 million 60NC5.25 subordinated deal
AMP Life taking indications of interest for 15NC5 tier-two FRN
On 30 November, AMP Life (A-/A3), part of the Resolution Life Group, began taking indications of interest for its new Australian dollar denominated, 15-year non-call five-year (15NC5), tier-two, benchmark, floating-rate note (FRN) transaction. The deal is being marketed at 350 basis points area over three-month bank bills and is expected to launch this week.
Ampol launches 60NC5.25 subordinated deal
On 30 November, Ampol (Baa1) launched a new Australian dollar denominated, 60-year non-call 5.25-year (60NC5.25), subordinated, wholesale, benchmark, floating-rate note transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 380 basis points area over three-month bank bills.
