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The first week of April was highlighted by residential mortgage-backed securities deal flow, with Australian Finance Group's A$500 million (US$356.1 million) and Bluestone Group's A$400 million deals. Meanwhile, Edith Cowan University priced its debut transaction and Asian Development Bank tapped two Kangaroo lines and priced a new Kauri.
Asian Development Bank (ADB) (AAA/Aaa/AAA) launched a new, minimum NZ$100 million (US$68 million) seven-year Kauri transaction on 4 April. The forthcoming deal has indicative price guidance of 43 basis points area over mid-swap. Pricing is expected on the day after launch, according to joint lead managers ANZ and TD Securities.
On 4 April, Edith Cowan University (ECU) (Aa2) launched a new, 10-year, maximum A$120 million (US$85.4 million) domestic transaction. The forthcoming deal has indicative price guidance of 100 basis points area over semi-quarterly swap. The deal is expected to price the day of launch, according to joint lead managers Commonwealth Bank of Australia and National Australia Bank.