National Australia Bank
KangaNews DCM Summit capital issuance webinar
Australia’s credit market has seen a pickup in supply of capital instruments, including a clutch of corporate hybrid transactions. The KangaNews Debt Capial Markets Summit 2020 webinar series included a session on additional capital, which focused on supply dynamics, demand drivers and the ever-present tension between retail, wholesale and true institutional participation.
VPN prints A$700 million multi-tranche deal
Pepper lining up A$750 million nonconforming RMBS transaction
On 15 April, Pepper Group revealed plans for a A$750 million (US$579.1 million) capped, nonconforming, residential mortgage-backed securities (RMBS) transaction, PRS29. Commonwealth Bank of Australia, Macquarie Bank, National Australia Bank and Westpac Institutional Bank have been mandated to engage investors. The deal may launch in the week beginning 26 April.
VPN launches multi-tranche Australian dollar benchmark deal
On 15 April, Victoria Power Networks (VPN) (A- by S&P) launched a new multi-tranche, Australian dollar denominated, benchmark transaction. Indicative price guidance for the five-year fixed- and floating-rate note tranches is 85 basis points area over swap benchmarks, while the seven-year tranche has a price guidance of 100 basis points area over semi-quarterly swap. Commonwealth Bank of Australia, National Australia Bank and Westpac Institutional Bank are leading.
BEN prints A$1 billion Torrens 2021-1 RMBS
VPN starts marketing multi-tranche Australian dollar benchmark deal
On 14 April, Victoria Power Networks (VPN) (A- by S&P) began taking indications of interest for its new multi-tranche, Australian dollar denominated, benchmark transaction. The five-year fixed- and floating-rate note tranches are being marketed at 85 basis points area over swap benchmarks, while the seven-year tranche has an initial price guidance of 100 basis points area over semi-quarterly swap. Commonwealth Bank of Australia, National Australia Bank and Westpac Institutional Bank are leading.
