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NWB Bank (AAA/Aaa) launched a minimum A$15 million (US$11.6 million) increase to its July 2028 Kangaroo line on 20 April, via Nomura. Indicative price guidance for the forthcoming transaction is 57 basis points area over semi-quarterly swap.
Recent deal outcomes for Transurban Queensland and Sydney Airport demonstrate the ongoing willingness of a range of international markets to provide liquidity to Australian corporate borrowers, deal sources say. While pricing outcomes vary, specific issuers’ funding strategies and the ongoing desire for investor diversification are at least as important drivers of market selection.
In his first-ever speech to delegates at the KangaNews Debt Capital Markets Summit, Reserve Bank of Australia (RBA) assistant governor – financial markets, Christopher Kent, shared insights into how a low-rates world is affecting fixed-income markets, including whether the low-rate environment is driving excessive risk-taking.
One of the highest-profile international guests at the KangaNews DCM Summit was Pierre van Peteghem, treasurer at Asian Development Bank (ADB) in Manila. In conversation with Richard Mazzochi, partner at King & Wood Mallesons in Hong Kong, van Peteghem shared insights into ADB’s wider role in sustainable development and how growth in the Asia-Pacific region is changing the supranational’s mandate.
Bank of Queensland (BOQ) (BBB+/A3/A-) will host a global investor update call on 20 April, ahead of a potential issue of Australian dollar-denominated tier-two securities. The transaction being discussed is a floating-rate note with 10-year, non-call five maturity. ANZ, Bank of America Merrill Lynch and National Australia Bank have the mandate.
The group of leading market economists gathered at the KangaNews DCM Summit discussed what appears to be an increasing range of risk possibilities for global economies. US protectionism, trade wars, and the future direction of rates and bond yields were on the agenda.
On 18 April, Commerzbank (A-/Baa1/BBB+) revealed plans to hold an investor call regarding a possible Australian dollar-denominated senior-nonpreferred transaction, with “medium-to-long dated” maturity. The call is being arranged by Commerzbank, Deutsche Bank, National Australia Bank and TD Securities and takes place on the afternoon of the announcement, Sydney time.