Deutsche Bank
Kangaroo SSA mid-curve flickers on positive demand notes
Mid-curve Kangaroo market pricing has swung back into a range that some global supranational, sovereign and agency (SSA) borrowers consider to be an acceptable premium for diversification purposes, market participants say. A recent-year issuance decline shows signs of having bottomed out – though it is yet to rebound – and market users say demand for the SSA product is steadily broadening.
AMP Bank launches Progress 2018-1 RMBS deal
AMP Bank launched its residential mortgage-backed securities (RMBS) transaction, Progress 2018-1, on 19 June. The forthcoming deal has an indicative total volume of A$750 million (US$556.7 million) and is expected to price on or before 22 June.
AMP starts marketing Progress 2018-1 RMBS deal
On 15 June, AMP Bank began taking indications of interest for its residential mortgage-backed securities transaction, Progress 2018-1. The deal has an indicative total volume of A$750 million (US$559.7 million) and is expected to launch in the week beginning 18 June.
Rentenbank prices A$200 million 11-year Kangaroo
Rentenbank launches new 11-year Kangaroo bond
Rentenbank (AAA/Aaa/AAA) launched a new, minimum A$150 million (US$113.5 million) 11-year Kangaroo bond on 14 June. The forthcoming deal is being marketed at 42 basis points area over semi-quarterly swap, equivalent to 50.75 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to lead managers Deutsche Bank and Mizuho Securities.
AMP Bank planning new RMBS transaction
AMP Bank disclosed on 29 May that it plans to engage with investors ahead of a possible residential mortgage-backed securities (RMBS) deal. The bank has mandated Deutsche Bank, Macquarie Bank, MUFG, National Australia Bank and Westpac Institutional Bank to explore a funding and capital relief transaction.
