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On 19 February, Queensland Treasury Corporation (QTC) (AA+/Aa1/AA) launched a new November 2024, Australian dollar denominated, syndicated, floating-rate note (FRN) transaction. The forthcoming deal is being marketed at 23.5-25.5 basis points area over three-month bank bills. Pricing is expected on the day after launch, according to ANZ and Commonwealth Bank of Australia.
On 18 February, Northern Territory Treasury Corporation (NTTC) (Aa3) mandated ANZ, National Australia Bank and UBS for a new April 2031, Australian dollar denominated, syndicated, benchmark transaction. The deal is expected to launch in the near future.
QPH Finance (BBB by S&P), the financing arm of Port of Brisbane, revealed plans for a potential Australian dollar denominated transaction. MUFG Securities and Westpac Institutional Bank have been mandated to arrange a series of investor meetings across Australia and Asia beginning 25 February.
On 18 February, Queensland Treasury Corporation (QTC) (AA+/Aa1/AA) mandated ANZ and Commonwealth Bank of Australia for a new November 2024, Australian dollar denominated, syndicated, floating-rate note (FRN) transaction.
On 18 February, Aurizon Network (Aurizon) (BBB+/Baa1) revealed plans for a potential 10-year or longer, Australian dollar denominated transaction. Mizuho Securities, National Australia Bank and Westpac Institutional Bank have been mandated to arrange a series of investor meetings across Australia and Asia in the week beginning 24 February.
On 18 February, Emirates NBD (A3/A+) launched a new 10-year, senior-unsecured, Kangaroo transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day after launch, is 205-210 basis points area over semi-quarterly swap. ANZ, Emirates NBD, Mizuho Securities and Nomura are joint lead managers.
Industrial and Commercial Bank of China Sydney Branch (ICBC Sydney) (A/A1/A) launched a three-year, Australian dollar denominated, benchmark, floating-rate note (FRN) transaction on 18 February. The forthcoming deal is being marketed at 82 basis points area over three-month bank bills. Pricing is expected on the day of launch, according to ANZ, ICBC, National Australia Bank and Westpac Institutional Bank.
On 18 February, Australian Office of Financial Management (AOFM) (AAA/Aaa/AAA) launched a syndicated tap of its May 2041 bond line. The issuer states that volume will be ‘modest’. Indicative price guidance for the forthcoming transaction, which is expected to price on the day after launch, is 49-51 basis points area over 10-year futures contract. Commonwealth Bank of Australia, J.P. Morgan and UBS are leading.