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On 3 May, Aroundtown (BBB+/S&P) launched a debut seven-year senior-unsecured Australian dollar-denominated transaction, via Citi and UBS. Indicative price guidance for the forthcoming transaction is 200-205 basis points area over semi-quarterly swap. Pricing is expected on or before 4 May.
On 3 May, KfW Bankengruppe (KfW) (AAA/Aaa/AAA) launched a A$150 million (US$112.3 million) minimum increase of its April 2020 Kangaroo line, with price guidance of 20 basis points area over semi-quarterly swap and 26.75 basis points area over Australian Commonwealth government bond. RBC Capital Markets is leading the tap, which will price on or before 4 May.
On 2 May, following the launch of a self-led, five-year domestic deal earlier in the day, ANZ Banking Group (ANZ) (AA-/Aa3/AA-) disclosed indicative price guidance for the forthcoming transaction of 93 basis points area over swap benchmarks.
On 2 May, ANZ Banking Group (ANZ) (AA-/Aa3/AA-) launched a new, five-year senior-unsecured domestic benchmark transaction. The self-led deal is expected to price on the day of launch.
On 1 May, SGSP Australia Assets (SGSP) (A-/A3) revealed plans to meet investors in Australia, Asia and Europe regarding a possible 7-10 year benchmark Reg S transaction, to be denominated in Australian dollars, euros or US dollars. The meetings, to be arranged by Commonwealth Bank of Australia, HSBC, Mizuho Securities and Westpac Institutional Bank, will commence on 8 May.
Northern Territory Treasury Corporation (NTTC) revealed its borrowing programme for the coming financial year on 1 May, following the announcement of the territory budget. The programme has been revised slightly higher to approximately A$1.75 billion (US$1.3 billion) from A$1.5 billion forecast in the 2017/18 budget.
On 1 May, following the release of the Victorian state budget, Treasury Corporation of Victoria revealed a funding requirement for the financial year ending 30 June 2019 of A$2.1 billion (US$1.6 billion). The requirement is lower than previously forecast, treasury forecasts from the May 2017 budget having indicated an expected funding need of A$4.6 billion for 2018/19.
Liberty Financial (Liberty) says its first residential mortgage-backed securities (RMBS) transaction for 2018 attracted a raft of new investors, contributing to the deal achieving total volume of more than double the launch target. The issuer attributes this result to its extensive investor-relations work.
On 1 May, FlexiGroup launched its asset-backed securities (ABS) transaction, Flexi ABS Trust 2018-1, for an indicative A$300 million (US$226 million). KangaNews understands the structure includes two green tranches, Class A2-G and Class B-G notes, which have a combined indicative volume of A$81.3 million.