Latest News
On October 24, International Finance Corporation (IFC) (AAA/Aaa) printed a A$50 million (US$38.1 million) increase to its July 2026 Kangaroo bond, from a minimum volume of A$30 million. The transaction priced flat against initial guidance of 49 basis points over semi-quarterly swap. According to KangaNews data, IFC introduced this line in January this year for volume of A$125 million. It was most recently tapped in September, for A$50 million at 49 basis points over swap.
Teachers Mutual Bank priced A$100 million (US$76.3 million) of three-year notes in an ethical bond after becoming the first Australian institution to have its entire wholesale debt issuance programme ethically certified in 2015. Meanwhile, corporate activity resumed in New Zealand with transactions from Toyota Finance New Zealand and Air New Zealand.
On October 21, Australia Pacific Airports Corporation (Melbourne Airport) (A-/A3) printed A$200 million (US$152.2 million) from a minimum volume of A$100 million, in a 10-year domestic transaction priced. Initial price guidance on the transaction was 175 basis points over semi-quarterly swap. According to KangaNews data, Melbourne Airport last issued in the domestic market in November last year when it printed A$120 million of 10-year notes at 175 basis points over semi-quarterly swap.
On October 20, Air New Zealand (Baa2) printed NZ$50 million (US$36.1 million) in its latest domestic transaction. Final pricing came in at 180 basis points over mid-swap - the mid-point of indicative pricing of 175-185 basis points over mid-swap. According to a NZX announcement, proceeds from the transaction will be used for general corporate purposes, including partial repayment of Air New Zealand's existing bonds maturing on November 15 this year.
Teachers Mutual Bank (Teachers Mutual) (BBB+/A3) priced A$100 million (US$76.9 million) of three-year notes in its latest domestic deal on October 20. The transaction priced at the tighter end of intiial guidance of 140-145 basis points over three-month bank bill swap rate (BBSW). According to KangaNews data, Teachers Mutual was most recently in the Australian market in November 2014, when it printed A$70 million of three-year notes at 105 basis points over BBSW.
On October 20, Citigroup (BBB+/Baa1/A) printed an upsized volume of A$550 million (US$422.3 million) from a minimum volume of A$150 million, in a seven-year SEC-registered global senior-unsecured transaction. Initial price guidance on the deal wasin the area of 175 basis points over semi-quarterly swap.
Liberty Financial (Liberty) has printed A$500 million (US$384.5 million) in its latest residential mortgage-backed securities (RMBS) transaction – its second prime and nonconforming deal of the year. The transaction priced in line with initial price guidance disclosed on October 17.
Province of Alberta (Alberta) (AA/Aa1) printed A$75 million (US$57.5 million) in an increase to its December 2026 Kangaroo bond on October 19. Initial price guidance on the tap was 81 basis points over semi-quarterly swap and 83 basis points over Australian Commonwealth government bond (ACGB).
On October 18, National Australia Bank (NAB) (AA-/Aa2/AA-) printed an upsized volume of A$1.75 billion (US$1.3 billion) from a minimum of A$750 million, in a new five-year dual-tranche transaction. Final pricing came in flat against an indicative margin of 105 basis points over three-month bank bill swap rate (BBSW).
Northern Territory Treasury Corporation (NTTC) (Aa2) printed A$300 million (US$230 million) in a new October 2024-maturity domestic deal. According to KangaNews data, NTTC's most recent syndicated issue was in April 2014 when it printed A$300 million of 12-year notes at 80 basis points over EFP.
Favourable execution conditions attracted ME back to the domestic residential mortgage-backed securities (RMBS) market, the issuer says. ME printed a total of A$1.5 billion (US$1.2 billion) from a A$1.9 billion final book across six-tranches in its first RMBS transaction of the year, according to arranger data. The A$1.4 billion class A1 notes priced at 118 basis points over one-month bank bill swap rate (BBSW).