Two Australian corporate borrowers accessed the euro market in the week beginning 18 March. Deal sources say Telstra Corporation (Telstra) and Scentre Group (Scentre) took advantage of the euro’s current status as the most competitive global funding option for Australian issuers to price 10-year deals, each with negative new-issue concessions.
On 25 March, BWP Management, the responsible entity for BWP Trust (A-/A3) announced plans for a potential new Australian dollar denominated deal. Commonwealth Bank of Australia and Westpac Institutional Bank have been mandated to arrange a conference call with fixed-income investors on 29 March.
On 25 March, Peet (NR) launched a five-year, indicative A$75 million (US$53.1 million) senior-unsecured transaction. The forthcoming deal has an indicative coupon in the area of 6.75 per cent. National Australia Bank is sole lead arranger and bookrunner.