Leads and issuer on Australia’s third-ever wholesale additional tier-one (AT1) deal and the first to write off rather than convert at point of nonviability (PoNV) – as printed by ME Bank on 16 November – say the transaction demonstrates the continued evolution of bank capital optimisation.
On 5 April, ME Bank (BBB/Baa1) launched a new, three-year, senior-unsecured domestic benchmark. The forthcoming deal is being marketed at 130 basis points area over three-month bank bills. Pricing is expected on the day of launch according to lead managers ANZ, National Australia Bank and Westpac Institutional Bank.
On 27 March, ME Bank (BBB/Baa1) revealed plans to hold a conference call with debt investors regarding a possible Australian dollar denominated, three-year senior-unsecured transaction. The call, to be arranged by ANZ, National Australia Bank and Westpac Institutional Bank, will take place on 28 March.
On 14 November, ME Bank (BBB/Baa1) launched its new Australian dollar perpetual non-call five-year additional tier-one capital notes deal, via National Australia Bank and Westpac Institutional Bank. Indicative price guidance for the transaction is 525 basis points area over three-month bank bills.