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South Australian Government Financing Authority (SAFA) (AA/Aa1) launched a syndicated increase to its August 2024 select line on 22 January. The forthcoming deal will be for volume of up to A$750 million (US$600 million) and has price guidance of 7.5-9.5 basis points over EFP, equivalent to 32-34 basis points over Australian Commonwealth government bond.
The third week of January was busy across multiple sectors, led by the Australian Office of Financial Management's A$9.6 billion (US$7.7 billion) November 2029 syndication. Elsewhere, Deutsche Bank Sydney Branch priced a A$450 million senior nonpreferred EMTN and World Bank printed NZ$700 million (US$510.5 million) in a five-year Kauri.
Commonwealth Bank of Australia (CommBank) (AA-/Aa3/AA-) mandated a self-led, 5.25-year Australian dollar senior-unsecured transaction on 19 January. The deal is expected to launch and price in the week beginning 22 January.
On 19 January, Treasury Corporation Victoria (TCV) (AAA/Aaa) revealed plans for syndicated taps of its October 2028 and December 2032 fixed-rate lines. Bank of America Merrill Lynch, Deutsche Bank, National Australia Bank and UBS will lead and launch is expected “in the near future”.
On 19 January, Kookmin Bank (A+/A1/A) revealed plans for a series of meetings with Australian dollar debt investors in Australia and Asia. The meetings, to be arranged by HSBC, will be held in the week beginning 29 January.
KangaNews is pleased to make its full transaction list from the Australian and New Zealand debt markets for calendar 2017 – including Kangaroo, Kauri and Australian securitisation deals – available for the first time.
On 19 January, Province of Alberta (Alberta) (A+/Aa1) launched a minimum A$50 million (US$40.1 million) increase to its December 2026 Kangaroo bond, via RBC Capital Markets. The forthcoming transaction is being marketed at 56 basis points area over semi-quarterly swap and 62.75 basis points area over Australian Commonwealth government bond. The deal will price on the day of launch.
Oesterreichische Kontrollbank (OKB) (AA+/Aa1) launched a minimum A$25 million (US$20 million) increase to its August 2027 Kangaroo line late in the Sydney day on 18 January. The forthcoming transaction has indicative price guidance of 59 basis points area over semi-quarterly swap and is expected to price on 19 January, according to lead manager TD Securities.