Suncorp enhances Asian engagement in latest 144A/Reg S deal
Suncorp-Metway (Suncorp)’s first 144A/Reg S deal since November 2017 attracted a meaningful oversubscription and significant price tightening, despite competing for demand in a busy market. Furthermore, leads and issuer say the level of participation from Asian accounts was a positive.
AFG provides proof on broker-originated loans, issuer says
Australian Finance Group (AFG) priced its largest-ever residential mortgage-backed securities (RMBS) deal on 5 April. The issuer intends to leverage what it believes is a unique product proposition in the Australian market, as a broker and lender, to reach a more diverse investor base as its funding requirement rises.
Volume not the only measure of outcome in BWP Trust’s seven-year domestic return
BWP Trust issued in the Australian domestic market for a third time on 4 April, printing a seven-year deal that was heavily oversubscribed. There have been other pure corporate domestic deals at this maturity in 2019 and even though BWP Trust’s volume outcome was modest in comparison, deal sources insist other factors, including price, were as noteworthy.
CRD-IV compliance boosts offshore demand for Bluestone’s latest RMBS
Until 2019, Bluestone Group (Bluestone)’s transactions were largely designed with Australian and New Zealand investors in mind. However, a move to issue in line with Capital Requirement Directives-IV (CRD-IV) regulation means Bluestone’s first residential mortgage-backed securities (RMBS) deal of the new calendar year garnered record volume and brought with it increased offshore investor recognition and participation, issuer and leads say.
AOFM plans A$58 billion of nominal-bond issuance for 2019/20 while linker volume set to fall
A day after the 2 April presentation of the Australian federal government’s budget for 2019/20, the Australian Office of Financial Management (AOFM) revealed that is expects to issue A$58 billion (US$41 billion) of Treasury bonds in the coming financial year – up by A$4 billion on 2018/19. At the same time, the government debt-management agency plans to issue just A$2.5 billion of inflation-linked bonds in 2019/20 – down from A$5.9 billion this year.