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On 17 October, African Development Bank (AfDB) (AAA/Aaa/AAA) launched a minimum A$25 million (US$17.8 million) increase to its August 2028 Kangaroo, via ANZ. The forthcoming deal has indicative price guidance of 42 basis points area over semi-quarterly swap, equivalent to 47.85 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch.
On 17 October, CAF – Development Bank of Latin America (AA-/Aa3/AA-) launched a new, five-year Kangaroo bond transaction. Indicative price guidance for the forthcoming deal is 105-110 basis points area over semi-quarterly swap. Pricing is expected on or before the day after launch, according to joint lead managers ANZ and UBS.
Extending its curve to 10 years was Housing New Zealand (Housing NZ)’s focus in its latest transaction. The issuer says conducive pricing facilitated its curve extension, which takes it into duration territory rarely seen in the New Zealand syndicated market.
On 17 October, Newcastle Permanent Building Society (NPBS) launched a new, indicative A$50 million (US$35.7 million) one-year domestic floating-rate note (FRN) transaction. The forthcoming deal is being marketed at 70 basis points area over three-month bank bills and is expected to price on the day of launch. Commonwealth Bank of Australia is sole lead manager.
On 16 October, Firstmac launched its residential mortgage-backed securities (RMBS) deal, Firstmac Mortgage Funding Trust No. 4 Series 3-2018 (Series 3-2018). The forthcoming transaction has indicative total volume of A$500 million (US$356.1 million) and is expected to price on or before 19 October.
Exclusive information from the KangaNews deal database covering capital-markets transactions by nonbank issuers profiled in the KangaNews Nonbank Yearbook 2018.
FlexiGroup offers a broad range of options to securitisation investors, including assets in Australia and New Zealand and a pioneering green issuance programme. Paul Jamieson, the firm’s Auckland-based group treasurer, and Bianca Spata, head of group funding in Sydney, update on developments.