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On 12 July, Inter-American Development Bank (IADB) (AAA/Aaa) launched a minimum A$100 million (US$73.8 million) 11-year Kangaroo transaction. Indicative price guidance for the forthcoming deal is 41 basis points area over semi-quarterly swap, equivalent to 55.25 basis points area over Australian Commonwealth government bond.
United Overseas Bank Sydney Branch (UOB Sydney) (AA-/Aa1/AA-) mandated a new domestic 3.5-year senior floating-rate deal on 11 July. ANZ, National Australia Bank, UBS and UOB are leading, with launch and pricing expected in the near future.
On 11 July, Columbus Capital launched its residential mortgage-backed securities transaction, Triton 2018-1. The deal has an indicative total volume of A$500 million (US$371.1 million) equivalent, including the US dollar denominated Class A1-US notes.
On 10 July, Mizuho Financial Group (Mizuho) (A-/A1/A-) launched its benchmark Australian dollar-denominated, five-year senior-unsecured SEC-registered transaction. The forthcoming deal, which will come in either or both fixed- and floating-rate formats, is being marketed at 140 basis points area over swap benchmarks.
ANZ Banking Group (ANZ) (AA-/Aa3/AA-) launched a self-led, three-year senior-unsecured benchmark domestic deal on 10 July. Indicative price guidance for the forthcoming transaction is 77 basis points area over swap benchmarks. Pricing is expected on the day of launch.
In the 2018 iteration of the KangaNews Fixed-Income Research Poll, Commonwealth Bank of Australia (CommBank) maintained the dominant position it has established in recent years. The CommBank team sat down with KangaNews to reflect on the market-shaping factors of the past 12 months and to reveal the main watch points.