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1.
Thursday, 18 February 2021

Full set of green lights for Suncorp as more bank senior supply looms

Suncorp-Metway’s return to senior-unsecured issuance revealed the scale of pent-up demand for Australian financial institution (FI) credit even at record tight pricing. After a period of virtually no senior bank issuance, Suncorp expects FI issuance to pick up during 2021 as credit growth and savings drawdowns accelerate.

3.
Tuesday, 16 February 2021

Suncorp launches new five-year senior-unsecured deal

On 16 February, Suncorp-Metway (A+/A1/A+) launched a new, benchmark, five-year, senior-unsecured domestic deal. The forthcoming transaction will come in either or both fixed- and floating-rate formats and is being marketed at 50 basis points area over swap benchmarks. Pricing is expected on the day of launch. ANZ, Commonwealth Bank of Australia, National Australia Bank, UBS and Westpac Institutional Bank are leading.

4.
Monday, 15 February 2021

Suncorp preparing Australian dollar senior-unsecured transaction

On 15 February, Suncorp-Metway (A+/A1/A+) revealed plans for a new five-year, Australian dollar denominated, senior-unsecured transaction, offered in either or both fixed- and floating-rate note formats. ANZ, Commonwealth Bank of Australia, National Australia Bank, UBS and Westpac Institutional Bank have been mandated to arrange a group investor call on the same day.

5.
Monday, 04 January 2021
Dec/Jan 2020/2021

KangaNews DCM Summit capital issuance webinar

Australia’s credit market has seen a pickup in supply of capital instruments, including a clutch of corporate hybrid transactions. The KangaNews Debt Capial Markets Summit 2020 webinar series included a session on additional capital, which focused on supply dynamics, demand drivers and the ever-present tension between retail, wholesale and true institutional participation.

7.
Tuesday, 25 August 2020

Suncorp launches 15.25NC5.25 subordinated FRN

On 25 August, Suncorp Group (A/A2/A+) launched a new Australian dollar denominated, 15.25-year non-call 5.25-year (15.25NC5.25), subordinated, floating-rate note (FRN), benchmark transaction. The forthcoming deal, which is expected to price on the day of launch, is being marketed at 250 basis points area over three-month bank bills. The notes are expected to be rated BBB/A-, according to lead managers Citi, National Australia Bank, UBS and Westpac Institutional Bank.

8.
Friday, 21 August 2020

Suncorp to engage investors ahead of potential 15.25NC5.25 subordinated FRN

On 21 August, Suncorp Group (A/A2/A+) mandated Citi, National Australia Bank, UBS and Westpac Institutional Bank to host an investor call on 24 August regarding a potential Australian dollar denominated, 15.25-year non-call 5.25-year (15.25NC5.25), subordinated, floating-rate note (FRN), benchmark transaction. The notes are expected to be rated BBB/A-.

9.
Friday, 24 April 2020

Suncorp’s covered-bond print hints at improving market but caution reigns

In the wake of its return to domestic issuance, Suncorp-Metway says likely volatility in the months ahead mean it is more important than ever to secure funding when the opportunity presents. The issuer became the first Australian-domiciled credit issuer to print a new bond deal since the emergence of the COVID-19 crisis, on 20 April.