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On 8 November, Agricultural Bank of China Sydney Branch (A/A1) revealed plans to engage investors in Australia for a potential inaugural Australian dollar denominated senior-unsecured transaction. Investor meetings will begin on 13 November, and will be arranged by ANZ, Commonwealth Bank of Australia, HSBC and National Australia Bank.
On 8 November, AMP (A by S&P) launched an indicative A$200 million (US$145.5 million), 10-year non-call five-year subordinated notes transaction. The deal is expected to be rated BBB+ and is being marketed at 275-300 basis points area over three-month bank bills. Pricing is expected on the day of launch, according to lead managers ANZ, Commonwealth Bank of Australia, National Australia Bank and UBS.
On 8 November, Telstra Corporation (Telstra) (A-/A2) mandated National Australia Bank and Westpac Institutional Bank for an Australian dollar denominated, one-year floating-rate note (FRN) transaction, with indicative price guidance of 60 basis points area over three-month bank bills. The lead managers are exploring expressions of interest and the offer may close at short notice.
Bank of China Sydney Branch (BoC Sydney) (A/A1/A) launched its benchmark, three-year domestic floating-rate note (FRN) transaction on 8 November, with indicative price guidance of 103 basis points area over three-month bank bills. Pricing is expected on the day of launch, according to lead managers Bank of China, Commonwealth Bank of Australia, National Australia Bank and Nomura.
On 8 November, New South Wales Treasury Corporation (TCorp) (AAA/Aaa) launched a minimum A$500 million (US$364 million) green-bond transaction by syndication, due November 2028. Indicative price guidance for the forthcoming deal is 44-46 basis points over Australian Commonwealth government bond. Pricing is expected on or before 9 November, according to lead managers ANZ, Bank of America Merrill Lynch and National Australia Bank.
On 7 November, Resimac began taking indications of interest for its residential mortgage-backed securities (RMBS) transaction, Resimac Premier Series 2018-2. The potential deal has indicative total volume of A$750 million (US$545.1 million).
Bank of China Sydney Branch (BoC Sydney) (A/A1/A) mandated a three-year domestic floating-rate note (FRN) transaction on 7 November, with initial price guidance of 103 basis points area over bank bills. Bank of China, Commonwealth Bank of Australia, National Australia Bank and Nomura are leading.
On 7 November, Think Tank Group (Think Tank) started taking indications of interest for a new SME commercial mortgage-backed securities (CMBS) transaction, Think Tank Series 2018-1.
On 7 November, in the wake of investor meetings held in Asia and Australia, AMP revealed price guidance of 275-300 basis points area over three-month bank bills for a potential Australian dollar denominated, 10-year non-call five-year subordinated notes transaction.
Fonterra Co-operative Group (Fonterra) (A-/A) launched a maximum NZ$150 million (US$100 million) seven-year domestic deal on 6 November. The forthcoming deal, which is being offered to institutional and New Zealand retail investors under same-class exemption rules, has an indicative margin of 1.25-1.35 per cent. The margin and interest rate will be set on 8 November following a bookbuild.
On 5 November, La Trobe Financial started taking indications of interest on its new residential mortgage-backed securities (RMBS) transaction, La Trobe Financial Capital Markets Trust 2018-2. Launch is expected during the week of 12 November.
On 5 November, Chorus and Fonterra Co-operative Group (Fonterra) revealed plans for domestic deals to be offered to institutional and retail investors under same-class exemption rules.