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On 1 June, Industrial and Commercial Bank of China, Sydney Branch (ICBC Sydney) (A/A1/A) launched a minimum A$50 million one-year domestic deal. Initial price guidance for the forthcoming transaction is 65 basis points over three-month bank bill swap rate.
The seven-year domestic deal mandated on 30 May by Shopping Centres Australasia Property Group (SCA Property) launched and priced the following day. Price talk was 165 basis points area over swap.
Rob Nicholl, Canberra-based chief executive at the Australian Office of Financial Management (AOFM), used a 30 May speech to Australian Business Economists (ABE) to predict “a strong possibility of heightened geopolitical uncertainty” over the coming year. But he also offered insights into the AOFM’s global investor base to support his claim that the issuer is well positioned for future volatility.
Coöperatieve Rabobank New Zealand branch (Rabobank New Zealand) (A+/Aa2) mandated an indicative NZ$100 million (US$71.1 million) June 2022 fixed-rate EMTN issue on 31 May. The forthcoming deal is being marketed in the area of 92 basis points over mid-swap.
Western Australian Treasury Corporation (WATC) (AA+/Aa2) has launched its new, October 2026-maturity syndicated benchmark transaction with pricing expected on 1 June. Lead managers Commonwealth Bank of Australia, Deutsche Bank, National Australia Bank and Westpac Institutional Bank revealed on 31 May that the forthcoming transaction is being marketed at 59-63 basis points over EFP.
The new, three-year senior-unsecured domestic benchmark deal for HSBC Sydney Branch (HSBC Sydney) (AA-/Aa2) progressed to launch on 31 May. The forthcoming floating-rate transaction, which will be for minimum volume of A$500 million (US$372.9 million), has price guidance in the area of 75 basis points over three-month bank bills.
Columbus Capital (Columbus) disclosed on 30 May that it is planning to engage with residential mortgage-backed securities (RMBS) investors in relation to its Triton RMBS programme. Credit Suisse, National Australia Bank and Westpac Institutional Bank are arranging the meetings, after which a potential Australian dollar RMBS may follow.