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South Australian Government Financing Authority (SAFA) (AA/Aa1) launched an indicative A$750 million syndicated increase to its July 2026 select line on 11 December. Indicative price guidance is in the area of 40-42 basis points over the 10-year futures contract, equivalent to 49.5-51.5 basis points area over Australian Commonwealth government bond. The deal will price the day after launch, according to lead managers HSBC, RBC Capital Markets and UBS.
On 11 December, Qudos Mutual (BBB-/S&P) launched a new, indicative A$25 million (US$18.8 million), one-year floating-rate note (FRN) transaction. The deal is being marketed at 85 basis points area over three-month bank bills and will price in the near future, according to lead manager Westpac Institutional Bank.
Vodafone Group priced an A$1.15 billion (US$863.8 million) triple-tranche Kangaroo while Macquarie Group issued a A$1 billion triple-tranche domestic deal during the first full week of December. AMP Bank printed an upsized A$1.1 billion residential mortgage-backed securities transaction while Pepper Australia and Think Tank Commercial Property Finance also priced new securitised deals.
In the wake of Endeavour Energy Group (Endeavour Energy)’s A$350 million (US$265.7 million) domestic debut, issuer and intermediaries say the deal ticked the boxes for an issuer with a careful focus on volume and price. The emphasis was also on achieving the support of a broad spectrum of investors.
On 8 December, L-Bank (AAA/Aaa) launched a new, indicative A$100 million (US$75.1 million) June 2023 Kangaroo bond. The deal is being marketed at 51 basis points area over semi-quarterly swap and pricing is expected on the day of launch, according to lead managers Commonwealth Bank of Australia, Deutsche Bank, Nomura and RBC Capital Markets.
