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Christchurch City Holdings (Christchurch City) (A+/S&P) revealed on 16 November that it is planning a five-year, senior-unsecured, fixed-rate issue with indicative volume of NZ$100-150 million (US$68.6-102.9 million). The bonds will be offered to institutional and New Zealand retail investors.

QBE priced a new additional tier-one (AT1) transaction on 10 November, printing US$400 million in a no-grow deal with a May 2025 first call date. In a first for the Australian market, the Reg S deal was issued in accordance with an issuer gender-equality framework. Paul Byrne, QBE’s Sydney-based group treasurer, estimates this approach may have doubled the volume of demand the transaction attracted.

Kommunalbanken Norway (KBN) (AAA/Aaa) launched a minimum A$25 million (US$19 million) tap to its January 2032 Kangaroo bond on 15 November, via Mizuho Securities. Indicative price guidance is 63.5 basis points area over semi-quarterly swap and 83.25 basis points area over the April 2029 Australian Commonwealth government bond. Pricing is expected on day of launch.

On 15 November, Pepper Australia (Pepper) revealed that it will engage with investors regarding a potential prime residential mortgage-backed securities (RMBS) transaction. Commonwealth Bank of Australia, National Australia Bank and Westpac Institutional Bank are arranging the meetings.

On 15 November, Challenger Life Company (Challenger) (A by S&P) launched a new Australian dollar-denominated, 25-year non-call five-year tier-two transaction. Indicative price guidance on the forthcoming deal, which is expected to be rated BBB by S&P, is 220 basis points area over bank bills. National Australia Bank, UBS and Westpac Institutional Bank are leading.