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On 18 July, RedZed Lending Solutions (RedZed) began taking indications of interest for its residential mortgage-backed securities (RMBS) deal, RedZed Trust Series 2019-1. The forthcoming transaction has indicative total volume of A$400 million (US$281.3 million) and is expected to launch the week beginning 22 July. National Australia Bank is the arranger for the transaction as well as joint lead manager alongside Commonwealth Bank of Australia.
NRW.BANK (AA-/Aa1/AAA) launched a new, five-year, minimum A$200 million (US$140.4 million) Kangaroo bond, on 18 July. Indicative price guidance for the forthcoming transaction is 52 basis points area over semi-quarterly swap, equivalent to 65.2 basis points area over Australian Commonwealth government bond. Pricing is expected on the day after launch, according to joint lead managers Deutsche Bank, J.P. Morgan and RBC Capital Markets.
On 18 July, EUROFIMA (AA+/Aa2) launched a capped A$20 million (US$14 million) increase of its May 2029 Kangaroo bond. Indicative price guidance for the forthcoming transaction is 62 basis points over semi-quarterly swap, equivalent to 70.25 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to sole lead manager TD Securities.
When it comes to political leadership on the most pressing economic issues of the day, Australia has got itself into a right mess. More bold ideas appear to be definitively off the table than remain on it and in the absence of any meaningful vision the country bumbles along, coping with its structural imbalances rather than taking them on.
Global leaders in the green, social and sustainablility (GSS) bond space are acutely aware of the core goal of the asset class: to drive capital into sustainable assets and thus help reshape the world economy. A debate is raging about how best to bring more participants into the environmental, social and governance (ESG) investment world – all while the climate-change clock is ticking.
On 18 July, ANZ Banking Group (ANZ) (AA-/Aa3/AA-) launched a new, benchmark, 10-year non-call five-year, domestic tier-two deal. The self-led floating-rate note transaction has indicative price guidance of 210 basis points area over three-month bank bills and is expected to price on or before 19 July. The notes are expected to be rated BBB/Baa1/A+.
As part of its goal of developing global investor engagement with Australasian asset-backed securities, the Australian Securitisation Forum hosts an annual showcase in London. Taking place on 10 June this year, the event attracted a raft of institutional investors to hear more about the Australian housing market and securitisation product.
On 18 July, Westpac New Zealand (Westpac NZ) (AA-/A1/AA-) revealed plans for a self-led, five-year domestic deal, expected to launch in the near future.
