Rabobank Australia prints A$2 billion dual-tranche senior deal
- Friday, 14 February 2025
Issuer name: Cooperatieve Rabobank Australia Branch
Issuer rating: A+/Aa2/A+
Expected issue rating: A+/Aa2/AA-
Pricing date: 14 February 2025
Lead managers: ANZ, National Australia Bank, TD Securities, UBS, Westpac Institutional Bank
Transaction type: senior-unsecured bond
Total volume: A$2 billion (US$1.26 billion)
Coupon type: FRN
Settlement date: 20 February 2025
Two-and-a-half year tranche
Volume: A$750 million
Maturity date: 20 August 2027
Coupon: 3m BBSW+65bp
Re-offer price: par
Margin: 65bp/3m BBSW
Five-year tranche
Volume: A$1.25 billion
Maturity date: 20 February 2030
Coupon: 3m BBSW+85bp
Re-offer price: par
Margin: 85bp/3m BBSW
WOMEN IN CAPITAL MARKETS Yearbook 2024
KangaNews's annual yearbook amplifying female voices in the Australian capital market.
SSA Yearbook 2024
The annual guide to the world's most significant supranational, sovereign and agency sector issuers.
Related news
Kiwis of all stripes flock offshore in search of pricing and liquidity advantages
New Zealand borrowers are increasingly heading offshore to fund as foreign markets offer up pricing and size outcomes that in many cases outperform those available at home. With at least seven foreign currency deals hitting screens in recent weeks, the pipeline shows no sign of slowing down – and some issuers even say future activity may not be restricted to senior format.
More offshore Kiwi action as ANZ prints euro senior deal
ANZ New Zealand nipped into the euro market on 19 March ahead of its half-year results to take €500 million from a no-grow trade. This was the bank’s second senior outing in just over a month as the issuer refocuses its funding activities in the format after a slew of additional capital issues.
Beyond Bank sees through upheaval to green-light debut senior deal
Despite a weaker market tone in the lead up to its inaugural issue, Beyond Bank Australia successfully printed a A$300 million floating-rate note transaction on 14 March. The bank’s Adelaide-based treasurer, Tony MacGillivray, speaks to KangaNews about how it navigated volatility, its journey to market and plans for future funding.
Selective investor appetite not enough to scupper ClearView’s tier-two print
ClearView Wealth tested market conditions by offering a subinvestment-grade profile tier-two transaction in a more challenging environment. Deal sources say demand was supported by existing relationships and mid-market accounts, with market conditions leading some investors to scale back participation.