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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.
On 18 April, Brisbane Airport Corporation (Brisbane Airport) (BBB/Baa2) launched an indicative A$200 million (US$155.3 million) seven-year senior-secured domestic transaction. The forthcoming deal is being marketed at 145 basis points area over semi-quarterly swap. Pricing is expected as early as the day of launch, according to lead managers ANZ and National Australia Bank.
Afterpay Touch Group (Afterpay) (NR) disclosed on 17 April that it is preparing a four-year, senior-unsecured transaction with indicative volume of A$40 million (US$31.1 million). The transaction, which is being arranged by National Australia Bank, is being offered to professional and sophisticated investors under wholesale documentation.
On 17 April, Liberty Financial (Liberty) began taking indications of interest for select tranches of its residential mortgage-backed securities (RMBS) transaction, Liberty Series 2018-1. Indicative price guidance has been disclosed for the Class A1a, Class A1b, Class A2 and Class B notes. The structure also includes the euro-denominated Class A1c notes.