NAB prices new A$1 billion FRN [UPDATED]
National Australia Bank (NAB) (AA-/Aa2/AA-) priced its fourth domestic benchmark transaction of 2012 on August 23, in the form of a new line of floating rate notes due March 4 2016. NAB most recently visited the domestic public market in June this year when it topped up a February 2017 dual tranche domestic bond by A$1.5 billion (US$1.6 billion), at 165 basis points over swap. NAB is the sole lead for the new deal.Caterpillar triples size of its fourth AUD transaction in 2012 [UPDATED]
Caterpillar Financial Australia (Caterpillar) (A/A2/A) tripled the volume of its fourth transaction in the AUD market in 2012. The deal launched on August 23 at A$100 million (US$105.1 million) of new two-year bonds and adds to the A$450 million Caterpillar has already placed this year.
ING Bank Sydney prices new three-year domestic deal [UPDATED]
In its second deal of 2012, ING Bank Sydney (A+/A2/A+) launched a new three-year transaction on August 21, which priced on August 22. The Sydney branch last came to the domestic market in April this year with a one-year transaction for a total of A$100 million (US$104.4 million), priced at 100 basis points over the bank bill swap rate.Retail hybrid momentum returns, with institutional backing
Hybrid issuance successfully returned to the Australian market in August thanks in part to a groundswell of support for corporate transactions from institutional investors, sources connected with recent deals say. Demand was sufficient for APA Group (APA) and Crown to add A$125 million (US$130.8 million) apiece to their retail deals, following an even larger upsize by Caltex Australia (Caltex) at the start of the month.