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On 9 January, International Finance Corporation (IFC) (AAA/Aaa) launched a minimum A$200 million (US$143.1 million) increase to its Kangaroo social bond due March 2023. The forthcoming deal has indicative price guidance of 40 basis points area over semi-quarterly swap, equivalent to 58.5 basis points area over Australian Commonwealth government bond.
On 8 January, Stockland Trust Management (Stockland) (A-/A3) announced a consent solicitation process on its A$150 million (US$106.9 million) September 2019, A$160 million November 2020 and A$250 million November 2022 notes. The issuer is proposing amendments to the terms and conditions of the notes, such that they align with its senior-unsecured bank debt facilities and global senior-unsecured funding.
On 8 January, Commonwealth Bank of Australia (CommBank) (AA-/Aa3/AA-) launched a new, self-led five-year domestic deal. The forthcoming transaction will come in either or both fixed- and floating-rate format and has indicative price guidance of 113 basis points area over swap benchmarks. Pricing is expected on the day of launch.
On 7 January, Inter-American Development Bank (IADB) (AAA/Aaa) launched a minimum A$25 million (US$17.8 million) increase to its June 2029 Kangaroo bond. The forthcoming deal has indicative price guidance of 40 basis points area over semi-quarterly swap, equivalent to 53.75 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to lead manager J.P. Morgan.
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On 7 January, Macquarie Bank revealed plans to engage investors regarding a refinance of the Class A notes from its Puma Series 2014-1 (Puma 2014-1) residential mortgage-backed securities (RMBS) issue. The notes offered in the refinance are expected to total less than A$260 million (US$185 million).
Commonwealth Bank of Australia (CommBank) (AA-/Aa3/AA-) began taking indications of interest for a new five-year domestic deal on 7 January. The potential transaction will come in either or both fixed- and floating-rate formats and has initial price guidance of 113 basis points area over swap benchmarks. The self-led deal is expected to launch and price in the near future.
On 7 January, Asian Development Bank (ADB) (AAA/Aaa/AAA) launched a new, five-year Kangaroo green bond via Deutsche Bank, Nomura and TD Securities. The forthcoming transaction has indicative price guidance of 43 basis points area over semi-quarterly swap, equivalent to 49.75 basis points area over Australian Commonwealth government bond. Pricing is expected on the day after launch.