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On 27 April, Bank of Queensland (BOQ) mandated Commonwealth Bank of Australia, National Australia Bank, SMBC Nikko and Westpac Institutional Bank to engage with investors regarding its REDS residential mortgage-backed securities (RMBS) programme. An Australian dollar-denominated transaction from the programme may follow.
Ausgrid Finance (Ausgrid) added to its landmark US private placement (USPP) and Australian domestic deals from 2017 in April, with a €650 million (US$793.6 million) and a dual-tranche US$1 billion 144A/Reg S transaction. Michael Bradburn, chief financial officer at Ausgrid in Sydney, shares exclusive insights on pricing objectives, market selection and sentiment with KangaNews.
Late in the Sydney day on 26 April, European Investment Bank (EIB) (AAA/Aaa/AAA) launched an indicative A$200 million (US$151.1 million) increase to its August 2024 Kangaroo line. The forthcoming deal is being marketed at 41 basis points area over semi-quarterly swap and 40 basis points area over Australian Commonwealth government bond. The transaction will price on 27 April, according to sole lead manager Nomura.
Inter-American Development Bank (IADB) (AAA/Aaa) launched a A$50 million (US$37.9 million) minimum increase to its 2023 Kangaroo bond on 26 April. Th tap, which has J.P. Morgan as lead, is being marketed at 32 basis points over semi-quarterly swap or 35 basis points over Australian Commonwealth government bond. It will price on day of launch.
Landesbank Baden-Württemberg (LBBW) (A1/A-) disclosed on 25 June that it will meet Asian investors with the aim of issuing an Australian dollar EMTN transaction in tier-two format, with a 10-year non-call five maturity. The investor meetings, which are being arranged by HSBC, LBBW, Standard Chartered and TD Securities, will commence on 2 May.