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Svenska Handelsbanken (AA-/Aa2/AA-) has disclosed plans to undertake a nondeal roadshow via a series of fixed-income investor meetings in Sydney, Melbourne and Brisbane, a November 21 announcement revealed. The meetings, which will be arranged by UBS, will commence during the week of November 28.
On November 21, ME (BBB+/A3) launched a minimum A$50 million (US$36.6 million) increase to its July 2019 senior-unsecured floating-rate line. The tap transaction is being marketed with a spread of 140 basis points over three-month bank bill swap rate (BBSW). According to KangaNews data, the line was introduced in July this year for volume of A$225 million and pricing of 145 basis points over BBSW.
In the third week of November, Westpac Banking Corporation (Westpac) issued the first-ever callable Basel III-compliant tier-two transaction into the US market by an Australian bank. Westpac printed US$1.5 billion of 15-year non-call 10-year notes. Meanwhile, Central American Bank for Economic Integration completed its debut Kangaroo deal.
On November 18, Western Australian Treasury Corporation (WATC) (AA+/Aa2) printed A$525 million (US$388 million) in a new syndicated benchmark deal. KangaNews data show that WATC's last syndication was in June this year when it printed A$700 million of 11-year notes at 61 basis points over Australian Commonwealth government bond.
In the wake of Westpac Banking Corporation (Westpac)'s first-ever SEC-registered tier-two transaction, the issuer says as the first callable Basel III-compliant tier-two trade issued in the US market by an Australian bank, this will likely allow other Australian banks to follow. It will also enable them to issue in an efficient manner.
KfW Bankengruppe (KfW) (AAA/Aaa/AAA) printed A$100 million (US$73.8 million) in a tap to its September 2026 Kangaroo bond, on November 18. According to KangaNews data, the line was introduced in March this year for volume of A$200 million and pricing of 58 basis points over swap.
On November 17, Liberty Financial (Liberty) (BBB) disclosed plans to conduct a series of debt investor update meetings commencing the week of November 21. According to the meetings' arrangers – Commonwealth Bank of Australia and Westpac Institutional Bank – a three-year, Australian dollar-denominated, senior-unsecured transaction may follow.
On November 17, Central American Bank for Economic Integration (CABEI) (A/A1/A) printed its debut Kangaroo transaction for volume of A$75 million (US$56.1 million) - upsized from a launch volume of A$50 million. The transaction priced flat to initial guidance of 180 basis points over semi-quarterly swap.
On November 17, Firstmac printed A$145 million (US$108.4 million) of new notes out of its Firstmac Mortgage Funding Trust Series 2E-2013 residential mortgage-backed securities (RMBS) transaction. The refinancing deal priced flat to initial guidance of 130 basis points over one-month bank bill swap rate.
Toyota Finance Australia (TFA) (AA-/Aa3) has mandated a potential Australian dollar-denominated senior-unsecured transaction, a November 16 announcement revealed. According to KangaNews data, TFA printed its most recent domestic transaction in September. This A$150 million (US$113 million) one-year deal printed at 40 basis points over bank bill swap rate.