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On 11 May, the five-year, senior domestic deal for Toyota Finance Australia (Toyota Finance) (AA-/Aa3) progressed to launch. Initial price talk on the minimum A$150 million (US$110.6 million) fixed-rate transaction is 90-93 basis points area over semi-quarterly swap.

The 11 May completion of the long-term lease of Endeavour Energy (Endeavour), the New South Wales (NSW) electricity distributor, has caused NSW Treasury Corporation (TCorp) to reduce its expected term-funding task for the current year to a A$200 million (US$146.8 million) net repayment of debt from the A$4 billion of net issuance previously forecast.

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Bank of Queensland (BOQ) (A3/A-) revealed on 11 May that it has established a Reg S covered-bond programme with conditional pass-through (CPT) features. BOQ is the first Australian bank to introduce such a programme, which allows issuers at lower rating levels more efficient access to triple-A-rated covered-bond issuance.

On 11 May, the seven-year domestic deal for Lendlease Real Estate Investments, as responsible entity of Australian Prime Property Fund Retail (APPF Retail) (A+ by S&P), progressed to launch. The forthcoming transaction has minimum volume of A$100 million (US$73.6 million) and initial price talk of 130 basis points area over semi-quarterly swap.

ING Bank Australia (ING Australia) is planning to engage with investors in relation to its Idol Trust residential mortgage-backed securities (RMBS) programme, the issuer revealed on 11 May. ING, Macquarie Bank, National Australia Bank and Westpac Institutional Bank are arranging the investor meetings, after which an Australian dollar RMBS deal may follow.