Commonwealth Bank of Australia

Thursday, 28 February 2019
Feb/Mar 2019

The reference-rate conundrum

The impending likely demise of global interbank offered rates has sparked many questions for the Australian market. Its local credit reference rate appears to be relatively robust – though its status is not unimpeachable – while the importance of cross-border issuance to Australian borrowers requires engagement with international IBOR developments. KangaNews and Commonwealth Bank of Australia brought together key market participants in late January to discuss the way forward.

Monday, 18 November 2019

Flexigroup launches ABS deal featuring multiple green tranches

On 19 November, flexigroup launched its asset-backed securities (ABS) transaction, Flexi ABS Trust 2019-2. The deal has capped volume of A$265 million (US$180.4 million) and features green tranches from triple-A to double-B-plus rated notes. National Australia Bank is arranger and joint lead manager alongside Commonwealth Bank of Australia. Pricing is expected on or before 22 November. 

Monday, 18 November 2019

Qantas launches 10-year domestic deal

On 19 November, Qantas Airways (Qantas) (Baa2) launched a new, 10-year domestic deal with indicative price guidance of 190-195 basis points area over semi-quarterly swap. Pricing is expected on the day after launch, according to joint lead managers Citi, Commonwealth Bank of Australia and National Australia Bank.

Sunday, 17 November 2019

CommBank launches AONIA-linked RMBS deal

On 18 November, Commonwealth Bank of Australia (CommBank) launched an inaugural Australian Overnight Index Average (AONIA)-linked, residential mortgage-backed securities (RMBS) transaction, Medallion 2019-1. The self-led deal has indicative total volume of A$1 billion (US$686.7 million).

Sunday, 17 November 2019

Eclipx plans Australian dollar Turbo ABS deal

On 18 November, Eclipx Group (Eclipx) revealed plans for an Australian dollar denominated auto asset-backed securities (ABS) deal from its Turbo programme. ANZ, Commonwealth Bank of Australia, Macquarie Bank, National Australia Bank and Westpac Institutional Bank have been mandated to engage investors.

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