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On 12 January, International Finance Corporation (IFC) (AAA/Aaa) launched a minimum A$50 million (US$39.4 million) increase to its October 2027 Kangaroo bond. The transaction is being marketed at 43 basis points over semi-quarterly swap and 50.25 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to lead manager HSBC.
On 12 January, Australian Office of Financial Management (AOFM) revealed plans for a new syndicated November 2029 nominal bond, to be issued in the week beginning 15 January. Citi, Commonwealth Bank of Australia, Deutsche Bank and UBS are lead managers.
CAF – Development Bank of Latin America (AA-/Aa3/AA-) launched a minimum A$40 million (US$31.5 million) increase to its September 2027 Kangaroo bond on 12 January, via Nomura. Indicative price guidance for the forthcoming transaction is 125 basis points area over semi-quarterly swap and 127.75 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch.
On 12 January, ASB Bank (AA-/A1) mandated a potential three-year domestic deal. The self-led floating-rate note (FRN) transaction is scheduled for launch during the week of 15 January.
The ability of Vodafone Group (Vodafone) to execute a sizeable Australian dollar transaction in short order and close to the end of a calendar year is testament to the further development of the local market, buy-side sources and intermediaries agree. The enhanced status of the Australian market is only emphasised by the issuer’s ability to print in scale without specific local premarketing.
Inter-American Development Bank (IADB) (AAA/Aaa) followed hard on the heels of its Kauri mandate, announced earlier on 11 January, to launch a minimum A$25 million (US$19.7 million) increase to its June 2032 Kangaroo later the same day. Indicative price guidance for the forthcoming transaction is 46 basis points area over semi-quarterly swap and 47 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to lead manager ANZ.