Emirates NBD Bank and First Abu Dhabi Bank (FAB) returned to Australian dollar issuance in February after long absences. Deal sources say market conditions were conducive despite basis-swap headwinds earlier in the year.
On 27 February, Avanti Finance (BB by S&P) launched a new A$25 million (US$16.4 million), no-grow, four-year transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day after launch, is 500-525 basis points area. National Australia Bank is the lead manager.