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On 10 September, Wingate Consumer Finance (Wingate), trading as NOW FINANCE, began taking indications of interest for its personal loans asset-backed securities (ABS) deal, Now Trust 2019-1. Indicative total volume for the transaction is A$200 million (US$137.2 million), and is expected to launch in the week beginning 16 September. National Australia Bank is arranger.
Declining interest rates and the global hunt for yield has opened pricing opportunities for offshore financial institutions (FIs) to issue Australian dollar additional tier-one (AT1) instruments for the first time in more than a decade. UBS Group (UBS), BNP Paribas and Societe Generale have all printed AT1 deals in Australian dollars since July.
On 9 September, La Trobe Financial mandated Commonwealth Bank of Australia, HSBC, Macquarie Bank, National Australia Bank, Natixis, United Overseas Bank and Westpac Institutional Bank to arrange a series of domestic and offshore investor meetings, beginning 19 September, regarding a potential residential mortgage-backed securities (RMBS) deal.
On 9 September, Asian Development Bank (ADB) (AAA/Aaa/AAA) launched a new 10.5-year, Kangaroo green bond. Indicative price guidance for the forthcoming deal, which is expected to price on the day after launch, is 43 basis points area over semi-quarterly swap, equivalent to 54.25 basis points area over Australian Commonwealth government bond. Deutsche Bank, Mizuho Securities and RBC Capital Markets are leading.