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On 24 September, Bank of Communications Sydney Branch (BoCom Sydney) (A-/A2) launched a new three-year, Australian dollar denominated, senior-unsecured, floating-rate note (FRN), benchmark transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 88 basis points area over three-month bank bills. ANZ, Bank of China, HSBC, Industrial and Commercial Bank of China and National Australia Bank are leading.
On 23 September, AusNet Services (A-/A3) began taking indications of interest for an Australian dollar denominated, 60-year non-call five-year (60NC5), subordinated, benchmark transaction, offered in either or both fixed- and floating-rate note formats.
Bank of Communications Sydney Branch (BoCom Sydney) (A-/A2) began taking indications of interest for a potential three-year, Australian dollar denominated, senior-unsecured, floating-rate note (FRN), benchmark transaction on 23 September. The deal is being marketed at 88 basis points area over three-month bank bills. ANZ, Bank of China, HSBC, Industrial and Commercial Bank of China and National Australia Bank are leading.
On 23 September, South Australian Government Financing Authority (SAFA) (AA+/Aa1) launched a syndicated increase to its May 2028 line. Indicative price guidance for the deal is 6.5-9.5 basis points area over 10-year futures contract, equivalent to 28-31 basis points area over Australian Commonwealth government bond. Pricing is expected on the day after launch, according to lead managers ANZ, Deutsche Bank, HSBC and Nomura.
Scentre Group says its blockbuster subordinated-debt deal in the US dollar 144A market is part of an ongoing capital-management programme in the wake of the COVID-19 crisis, supporting its long-term credit rating and providing significant financial flexibility. The transaction was met by substantial international demand, deal sources add.
On 23 September, Columbus Capital mandated Credit Suisse, Natixis and Standard Chartered to engage investors regarding a potential Australian dollar denominated nonresident residential mortgage-backed securities (RMBS) deal from its Vermilion programme.
The circumstances of 2020 have put particular pressure on corporate treasuries. Where the financial crisis was spawned – and, in Australia’s case, largely remained – in financial markets, COVID-19 rapidly developed from a public-health emergency into the greatest shock the real economy has seen in lifetimes.
The sustainable-finance sector has grown exponentially in the past decade. As part of the Women in Sustainable Finance initiative, Westpac Institutional Bank and KangaNews brought together Australian and global experts to discuss the market in 2020 and beyond.