Suncorp starts marketing five-year covered bond deal

On 5 September, Suncorp-Metway (Suncorp) (A+/A1) began taking indication of interest for a new, Australian dollar denominated five-year covered bond deal. The transaction will come in either or both fixed- and floating-rate formats and has initial price guidance of 80 basis points area over swap benchmarks.

The deal is expected to launch in the near future, according to lead managers ANZ, Deutsche Bank, National Australia Bank, RBC Capital Markets and Westpac Institutional Bank.