Latest News
Firstmac mandated a new Australian dollar residential mortgage-backed securities (RMBS) transaction on 30 August, according to lead managers ANZ, J.P. Morgan, National Australia Bank and Westpac Institutional Bank.
ANZ Banking Group (ANZ) (AA-/A3/AA-) mandated a new Australian dollar tier-two deal in EMTN format on 30 August. The 15-year non-call 10-year notes are expected to be rated BBB/Baa1, lead managers ANZ and Daiwa Capital Markets add.
Canadian Imperial Bank of Commerce (CIBC) (A+/A1/AA-) launched a minimum A$300 million (US$238.7 million) Kangaroo covered bond on 30 August. The December 2020-maturity deal is expected to be rated Aaa/AAA (Moody’s/Fitch) and will be launched in either or both of fixed- or floating-rate format, with initial price guidance in the area of 55 basis points over swap benchmarks.
GPT Wholesale Shopping Centre Fund (A-) began marketing its Australian dollar-denominated, seven-year domestic deal on 30 August. Initial price guidance is in the area of 150 basis points over semi-quarterly swap, according to lead managers ANZ and National Australia Bank.
Sumitomo Mitsui Financial Group (SMFG) (A-/A1) launched a new SEC-registered, Australian dollar-denominated, 5.5-year benchmark bond on 30 August. The forthcoming deal is expected to emerge in either or both of fixed- or floating-rate format, with initial price guidance in the context of 125 basis points area over swap benchmarks.
KfW Bankengruppe (KfW) (AAA/Aaa/AAA) mandated a new 2028-maturity Kangaroo bond on 30 August. Initial price guidance is in the area of 49 basis points over semi-quarterly swap or 52.125 basis points over Australia Commonwealth government bond, according to lead managers Deutsche Bank, Nomura and TD Securities.
Motor Trade Finance (MTF) revealed on 30 August that it has started taking indications of interest for the Class A notes of its latest asset-backed securities (ABS) deal, MTF Sierra Trust 2017. The notes have indicative volume of NZ$194.04 million (US$140.85 million) and initial price guidance of in the area of 125 basis points over one-month bills for a weighted average life of 2.8 years.
On 30 August, Bank of Nova Scotia Australia Branch (BNS Australia) (A+/A1/AA-/AA) mandated a debut Australian dollar-denominated five-year benchmark bond. The transaction is expected to launch in the near future, according to lead managers ANZ, Scotiabank, UBS and Westpac Institutional Bank.