National Australia Bank
National Australia Bank (NAB)’s first foray into the euro market for 2018 – five- and 10-year transaction in which the shorter-dated notes were green bonds – garnered a large oversubscription and tightened pricing in a busy market. Deal sources say NAB’s updated green bond programme, which now incorporates the UN Sustainable Development Goals (SDGs) played a part in the deal’s reception.
On 18 June, Vicinity Centres (Vicinity) (A/A2) began taking indications of interest for a new, six-year, senior-unsecured Australian dollar denominated transaction, offered in either or both fixed- and floating-rate note formats. Indicative price guidance for the forthcoming transaction is 150 basis points area over swap benchmarks.
On 18 June, Barclays (BBB/Baa3/A) revealed initial price thoughts for a five- and 10-year Australian dollar denominated transaction. The five-year tranche will come in either or both fixed- and floating-rate formats and is being marketed at 225 basis points area over swap benchmarks, while the 10-year fixed-rate tranche is being marketed at 260 basis points area over semi-quarterly swap.
On 13 June, Macquarie Bank (A/A2/A) began taking indications of interest for a three-year Australian dollar denominated benchmark transaction, offered in either or both fixed- and floating-rate note (FRN) formats and for a one-year senior-unsecured FRN. The three-year tranche has initial price guidance of 80 basis points area over swap benchmarks while the one-year tranche is being marketed at 45 basis points area over three-month bank bills.
On 12 June, National Australia Bank (NAB) (AA-/Aa3/AA-) launched a new self-led, five-year, benchmark senior-unsecured domestic deal. The forthcoming transaction will come in either or both fixed- and floating-rate formats, and has indicative price guidance of 95 basis points area over swap benchmarks. Pricing is expected on the day of launch.