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On 18 January, Credit Suisse Group (Credit Suisse) (BBB+/Baa2/A-) revealed plans to meet with Australian and Asian investors in relation to a potential senior-unsecured, total loss-absorbing capacity (TLAC)-eligible, Australian dollar deal. Commonwealth Bank of Australia, Credit Suisse and National Australia Bank are arranging the meetings, which will begin on 29 January.
On 18 January, Coöperatieve Rabobank Australia Branch (Rabobank Australia) (A+/Aa2/AA-) launched a minimum A$300 million (US$239.3 million) five-year domestic deal to be issued in either or both of fixed- and floating-rate formats. Indicative price guidance on the forthcoming transaction is 82 basis points area over swap benchmarks.
Pricing is expected on or before 19 January, according to lead managers Commonwealth Bank of Australia, National Australia Bank and UBS.
NWB Bank (NWB) (AAA/Aaa) will price a minimum A$50 million (US$40 million) new 10.5-year Kangaroo line on 18 January, after the transaction was launched late Sydney time the day prior. Price guidance for the July 2028 maturity transaction is 62 basis points over semi-quarterly swap, according to lead managers Daiwa Capital Markets, J.P. Morgan and RBC Capital Markets.
BNG Bank (BNG) (AAA/Aaa/AA+) launched an indicative A$20 million tap of its July 2028 Kangaroo line on 17 January, via J.P. Morgan and TD Securities. The forthcoming deal is being marketed at 63 basis points over semi-quarterly swap and 69.75 basis points over Australian Commonwealth government bond, and will price on the same day as launch.
Westpac Banking Corporation (Westpac) (AA-/Aa3/AA-) launched a minimum A$100 million (US$79.9 million), tier-two EMTN on 17 January. The 30-year bullet transaction, which will have a fixed coupon of 5 per cent, is expected to be rated BBB/Baa1 and to price on the same day as launch. TD Securities and Westpac Institutional Bank are leading.