In its debut issuance, Charter Hall LWR printed the tightest spreads for seven- and 10-year tenors by a triple-B rated corporate since at least the financial crisis. Lead managers say conditions remain well set for corporate borrowers planning to issue debt in Australia.
On 22 February, Charter Hall LWR (Baa1) launched an Australian dollar denominated benchmark transaction, offered in either or both seven- and 10-year tenors. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 120-125 and 140-145 basis points area over semi-quarterly swap. National Australia Bank and Westpac Institutional Bank are leading.
On 18 February, Aurizon Finance (BBB+/Baa1) mandated MUFG Securities, National Australia Bank and SMBC Nikko to arrange a series of investor calls beginning 23 February regarding a potential seven-year or longer, Australian dollar denominated transaction.