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Australian Finance Group (AFG) achieved its largest-ever volume and deep engagement with offshore investors in its recent return to residential mortgage-backed securities (RMBS) issuance. The borrower says its unique position in the market has elevated its brand during the crisis.
On 22 July, Australian Office of Financial Management (AOFM) (AAA/Aaa/AAA) revealed ANZ, Commonwealth Bank of Australia, Deutsche Bank, J.P. Morgan and UBS as joint lead managers for the syndication of a new, June 2051 Treasury bond. The deal is expected to launch in the week beginning 27 July.
On 22 July, UBS Australia Branch (A+/Aa3/AA-) launched a new multi-tranche, Australian dollar denominated, senior-unsecured, benchmark transaction. The forthcoming deal is offered in a three-year floating-rate note (FRN) and at five-year tenor in either or both fixed and FRN format. Indicative price guidance is, respectively, 75-80 and 95-100 basis points over swap benchmarks.
On 22 July, QPH Finance (BBB by S&P), the financing entity of Port of Brisbane, launched a new Australian dollar denominated, benchmark transaction, offered in seven- and 10.5-year tenor. Indictive price guidance for the forthcoming deal is, respectively, 210 and 240 basis points area over semi-quarterly swap. Pricing is expected on the day of launch, according to lead managers ANZ, MUFG Securities and Westpac Institutional Bank.
On 21 July, Export Finance Australia (AAA by S&P) launched a new 3.5-year, Australian dollar denominated, benchmark transaction. Indicative price guidance for the forthcoming deal is 20-23 basis points area over three-year futures contract, equivalent to 17.7-20.7 basis points area over Australian Commonwealth government bond.