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On August 13, QIC Shopping Centre Fund (A- by S&P), launched and priced a new A$200 million (US$146.9 million) 5.5-year bond, at a launch margin of approximately 135 basis points over semi-quarterly swap. QIC Shopping Centre Fund met with investors in Asia and Australia to "explore opportunities for a capital markets transaction" in July.
In the wake of Export-Import Bank of Korea (Kexim)'s latest Australian dollar transaction – its fourth in the local market – intermediaries say investor interest in Korean exposure is rising. A quartet of upcoming redemptions could also support a resumed Korean Kangaroo pipeline.
Supply in the second week of August was bolstered by a A$1.25 billion (US$921.5 million) Australian Office of Financial Management inflation-linked bond, its first syndicated linker since 2013. Resimac and Export-Import Bank of Korea issued, and Teachers Mutual pioneered an all-green wholesale debt-funding programme.
DEXUS Property Group (DEXUS) (A-/A3) is preparing to host a series of investor meetings in Australia and Asia during the week commencing August 24. The meetings' arrangers, ANZ and National Australia Bank, say a "capital markets transaction may follow".
The Export-Import Bank of Korea (Kexim) (A+/Aa3/AA-) priced a new 5.5-year Kangaroo bond on August 12. According to KangaNews data, this is the first time the borrower has visited the Australian dollar market since November last year and just the second Korean-origin Kangaroo of 2015. Industrial Bank of Korea issued in February.
Tasmanian Public Finance Corporation (Tascorp) (AA+/Aa1) priced a new February 2026 fixed-rate benchmark issue in the Australian market on August 12. The deal is the issuer's first syndicated transaction for 2015.
Bendigo and Adelaide Bank (BEN) (A-/A2/A-) launched and priced its first senior-unsecured benchmark deal of the year on August 11, following its mandate on August 10. The five-year floating-rate transaction priced at guidance of 110 basis points over bank bills.
Resimac priced its second residential mortgage-backed securities (RMBS) issue of 2015 on August 11. Resimac Premier Series 2015-1 has a total volume of A$500 million (US$366.9 million) across four tranches and is backed by a pool of prime Australian residential mortgages.
Corporación Andina de Fomento (CAF) (AA-/Aa3/AA-) priced the second tap to its June 2025 Kangaroo bond on August 11. According to KangaNews data, the deal is the second increase to CAF's longest-dated Kangaroo line, which was introduced on May 27 this year for volume of A$150 million (US$111 million) and pricing of 165.25 basis points over Australian government bond (ACGB).