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On 1 December, Macquarie Bank (A+/A2/A) revealed plans for a new Australian dollar denominated, five-year, senior-unsecured benchmark transaction, offered in either or both fixed- and floating-rate note formats. ANZ, Commonwealth Bank of Australia, Macquarie Bank, National Australia Bank, SMBC Nikko and Westpac Institutional Bank are leading.
AMP Life (A-/A3), part of the Resolution Life Group, launched a new Australian dollar denominated, 15-year non-call five-year (15NC5), tier-two, benchmark, floating-rate note (FRN) transaction on 1 December. The forthcoming deal is being marketed at 350 basis points area over three-month bank bills and is expected to price on the day of launch.
On 1 December, Western Sydney University (WSU) (Aa2) launched a new Australian dollar denominated, seven-year transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 120 basis points area over semi-quarterly swap. Commonweal Bank of Australia and National Australia Bank are leading.
ME Bank revealed plans for a potential Australian dollar denominated, capital-relief, residential mortgage-backed securities (RMBS) deal, SMHL 2020-1, on 30 November. ANZ has been mandated as arranger and lead manager alongside Commonwealth Bank of Australia, MUFG Securities and National Australia Bank.
World Bank capped an active year in the Kauri market with a record-breaking deal on 26 November. The issuer pursued a dual-tranche strategy designed to bring in bids from multiple investor bases, while a recent backup in New Zealand dollar yield produced a further demand bump.
On 30 November, AMP Life (A-/A3), part of the Resolution Life Group, began taking indications of interest for its new Australian dollar denominated, 15-year non-call five-year (15NC5), tier-two, benchmark, floating-rate note (FRN) transaction. The deal is being marketed at 350 basis points area over three-month bank bills and is expected to launch this week.
Western Australian Treasury Corporation (WATC) (AA+/Aa1) launched a new Australian dollar denominated, March 2026, syndicated, benchmark, floating-rate note (FRN) transaction on 30 November. The deal, which is expected to price on the day of launch, is being marketed at 10-13 basis points area over three-month bank bills.
On 30 November, Ampol (Baa1) launched a new Australian dollar denominated, 60-year non-call 5.25-year (60NC5.25), subordinated, wholesale, benchmark, floating-rate note transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 380 basis points area over three-month bank bills.