In 2017, KangaNews and Mizuho Securities hosted their first-ever roundtable discussion in Tokyo for Japanese investors in Australian dollar debt. A year later, a larger group of buy-side participants explain that, while the headwinds facing international participants in the Australian market are real, they are if anything engaged with a wider range of product than ever before.
On 19 November, AMP Life (A-/A3), part of Resolution Life Group, appointed Citi, Deutsche Bank, Mizuho Securities and National Australia Bank as joint lead managers for a potential 15-year non-call five-year, Australian dollar tier-two transaction. Fixed-income investor calls will begin on 23 November. The deal is expected to be rated Baa2.
Mizuho Bank Sydney Branch (Mizuho Sydney) (A/A1) launched a new three-year, Australian dollar denominated transaction on 14 October, offered in either or both fixed- and floating-rate note formats. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 60 basis points area over swap benchmarks.