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On December 1, Suncorp-Metway (Suncorp) printed a A$100 million (US$74.1 million) increase to its August 2026-maturity covered bond. The transaction priced flat to initial guidance of 130 basis points over semi-quarterly swap. KangaNews data reveal that this line was introduced in August for volume of A$350 million and pricing of 135 basis points over swap.
Bendigo and Adelaide Bank (BEN) (A-/A2/A-) has priced A$125 million (US$92.5 million) of 10-year non-call five-year notes, on December 1. The transaction was upsized from a launch volume of A$100 million and priced 10 basis points tighter than initial guidance of 290 basis points over bank bill swap rate (BBSW).
The Export-Import Bank of Korea (Kexim) (AA/Aa2/AA-) has printed A$200 million (US$149.7 million) - from a minimum volume of A$100 million - in a new 10.5-year maturity transaction, a November 30 announcement revealed. The transaction priced flat to initial guidance of 130 basis points over semi-quarterly swap. Kexim has now become the first Korean issuer to join the trend for long-dated Kangaroo issuance. Although several Korean issuers have been active in the Kangaroo market none has publicly issued at longer than seven-year tenor according to KangaNews data.
On November 29, Bank of Communications Sydney Branch (BoCom Sydney) printed A$350 million (US$261.9 million) in a new three-year, senior-unsecured transaction - upsized from a launch volume of A$300 million. Initial price guidance on the transaction was in the area of 112-115 basis points over three-month bank bill swap rate (BBSW), with final pricing being set at the 112 mark.
In the wake of its debut Kangaroo transaction, Central American Bank for Economic Integration (CABEI) tells KangaNews that its investor-relations work with and subsequent significant support from a specific group of investors drove the execution of its deal – which comes approximately two years after it was first mooted.
In the wake of its return to public residential mortgage-backed securities (RMBS) issuance after a 12-year absence, ANZ Banking Group (ANZ) says the new shape of the regulatory matrix has finally made capital-relief issuance a cost-effective option. The issuer says it is encouraged by the investor response to its latest deal – including its substantial offshore distribution – and hopes not to be absent from the securitisation market for another extended period.
ANZ Banking Group returned to the public Australian residential mortgage-backed securities market for the first time in 12 years this week, printing A$2 billion (US$1.48 billion) via Kingfisher Trust 2016-1. Meanwhile, ASB Bank completed its latest tier-two deal, printing NZ$400 million (US$279.7 million) of 10-year non-call five-year notes.
On November 25, ANZ Banking Group (ANZ) (AA-/Aa2/AA-) printed A$2 billion (US$1.48 billion) in its first residential mortgage-backed securities (RMBS) transaction since 2004. The class A1 notes were upsized to A$1.84 billion from a launch volume of A$690 million. Final pricing on the A1 tranche came in at 107 basis points over one-month bank bill swap rate (BBSW) - three basis points tighter than guidance of 110 basis points.
On November 25, ASB Bank disclosed to the NZX that it had completed its offer of NZ$400 million (US$279.7 million) tier-two notes. The margin on the retail-format transaction had been set at 280 basis points over bank bills, against indicative 270-285 basis points over bills guidance range, on November 3.
Australian Postal Corporation (Australia Post) (AA- by S&P) printed A$280 million (US$207.3 million) in a new, dual-tranche Australian dollar deal, on November 24. The 10-year tranche was upsized to A$180 million from a launch volume of A$100 million and the A$100 million five-year tranche priced at 100 basis points over three-month bank bill swap rate - tightened from guidance of 105-110 basis points.
On November 24, Greater Bank (BBB+) printed A$30 million (US$22.1 million) - upsized from a launch volume of A$20 million - in a new three-year domestic deal. The transaction priced in line within guidance of 150 basis points over three-month bank bill swap rate (BBSW). According to KangaNews data, Greater Bank was most recently in the Australian domestic market in August this year when it printed A$30 million of three-year notes at 155 basis points over BBSW.