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BNG Bank (AAA/Aaa/AA+) launched a minimum A$25 million (US$17.7 million) tap to its April 2029 Kangaroo on 8 February, with price guidance of 55 basis points over semi-quarterly swap. Daiwa Capital Markets is leading.
Commonwealth Bank of Australia (CommBank) is taking indications of interest on the A3-R refinancing of the A$300 million (US$213.2 million) Medallion 2014-1 class A3 note. Indicative price guidance is 105 basis points area over one-month bank bills with the capped residential mortgage-backed securities (RMBS) transaction under the Medallion programme expected to launch and price, subject to market conditions and investor demand, via CommBank.
Canadian Imperial Bank of Commerce Australian Branch (CIBC Australia) (A+/Aa2/AA-) mandated a potential one-year domestic senior benchmark deal on 7 February. The notes will not be subject to Canadian bail-in rules implemented in September 2018.
On 7 February, Westpac New Zealand (Westpac NZ) (AA-/A1/AA-) launched a minimum NZ$100 million (US$68.3 million) three-year domestic deal to retail and institutional investors. The self-led transaction has an indicative margin of 85 basis points area over bank bills, with pricing due the day after launch.
On 6 February, Westpac Banking Corporation (Westpac) revealed plans to engage with investors on a new, funding-only, Australian dollar denominated residential mortgage-backed securities (RMBS) transaction under its WST RMBS programme. Westpac Institutional Bank is arranging the meetings and forthcoming deal.
NWB Bank (AAA/Aaa) launched a minimum A$15 million (US$10.7 million) tap to its May 2029 Kangaroo on 6 February via Daiwa Capital Markets. The increase has price guidance of 57 basis points area over semi-quarterly swap and 68.25 basis points area over Australian Commonwealth government bond, and is expected to price the same day as launch.
EUROFIMA (AA+/Aa2) mandated a minimum A$25 million (US$18.1 million) increase to its May 2029 Kangaroo bond on 6 February. The increase is being marketed at 62 basis points area over swap or 74 basis points area over Australian Commonwealth government bond and will price the same day as launch via Nomura.