On 13 November, Toyota Finance Australia (Toyota Australia) (AA-/Aa3) launched a new, benchmark Australian dollar denominated transaction. The forthcoming deal will be comprised of three-year tranches in either or both fixed- and floating-rate format with indicative price guidance of 78 basis points area over swap benchmarks. There will also be a five-year fixed-rate tranche, being marketed at 100 basis points area over semi-quarterly swap.
On 12 November, Toyota Finance Australia (Toyota Australia) (AA-/Aa3) mandated ANZ, Citi and Commonwealth Bank of Australia for a potential benchmark Australian dollar denominated transaction, to come in either or both three- and five-year maturities.
On 9 November, Lendlease revealed it has decided not to proceed with a A$500 million (US$362.6 million) dual-tranche domestic deal priced on 2 November and due to settle on 9 November. In the announcement, joint lead managers ANZ, HSBC and Westpac Institutional Bank disclosed that Lendlease had taken the decision after making a public announcement regarding “further identified underperformance in the financial position of its engineering and services businesses”.