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On 23 May, Avanti Finance (Avanti) mandated Westpac New Zealand to arrange investor meetings, regarding a potential New Zealand residential mortgage-backed securities (RMBS) transaction.
International Finance Corporation (IFC) (AAA/Aaa) launched a minimum A$25 million (US$17.2 million) increase to its June 2029 Kangaroo bond, on 22 May. The forthcoming transaction is being marketed at 42 basis points area over semi-quarterly swap, equivalent to 55 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to sole lead manager Nomura.
In the next step in the evolution of applying blockchain technology to debt capital markets, it is now possible to trade World Bank’s Bond-i on the blockchain platform. Participants say interest in the platform has only continued to accelerate since the deal was introduced in August 2018, and that further development is still ongoing.
On 22 May, Sumitomo Mitsui Banking Corporation Sydney Branch (SMBC Sydney) (A/A1/A) launched a new, two-year, benchmark senior-unsecured domestic deal. The forthcoming transaction has indicative price guidance of 62 basis points area over three-month bank bills.
On 21 May, ME Bank began taking indications of interest for its residential mortgage-backed securities (RMBS) deal, SMHL Series Securitisation Fund 2019-1 (SMHL 2019-1). The transaction has indicative total volume of A$750 million (US$516 million) with the potential to upsize, and is expected to launch in the week commencing 27 May.
BNG Bank (AAA/Aaa/AAA) launched a minimum A$25 million (US$17.3 million) increase to its April 2029 Kangaroo deal on 21 May, with indicative price guidance in the area of 54 basis points over semi-quarterly swap and 66.2 basis points over Australian Commonwealth government bond. J.P. Morgan is sole lead manager.