insto - Australian financial markets

Bank of Scotland A$600m Sep 2012 fixed/FRN

Bank of Scotland issued A$600 million in fixed and floating-rate bonds with maturity 10 September 2012. The issuer is rated A+ (S&P) Aa3 (Moody’s) AA- (Fitch). The issue is part of a A$15 billion program. Details of the two tranches are:

Fixed
Amount: A$150 million
Coupon: 6.5 percent

FRN
Amount: A$450 million
Coupon: 3-month BBSW + 175bps

Joint lead managers for the deal are ANZ and Royal Bank of Scotland.

EIB prices A$600m Aug 2020 Kangaroo increase.

The European Investment Bank priced a A$600 million increase to its 6 August 2020 Kangaroo.

The coupon is 6 percent and the tap takes the program to A$1.6 billion. EIB is rated AAA.
The bond was sold at a yield of 5.715 percent and the intiial launch size was A$500 million.

Lead managers for the deal are UBS, RBC Capital Markets and TD Securities.
 

Bank of America prices A$1.2bn 3-year Kangaroo

Bank of America Corporation has priced a A$1.2 billion 3-year fixed and floating rate Kangaroo, the first off its Australian and New Zealand MTN program announced July 2010, lead manager ANZ said. Details are as follows:

Fixed
Amount: A$900 million
Coupon: 6.75 percent
Yield: 6.84 percent
Maturity: 9 September 2013

FRN
Amount: A$300 million
Coupon: 210 basis points over BBSW
Maturity: 9 September 2013

Macquarie Uni prices A$250m 10-year AMTN.

Macquarie University has priced a A$250m 10-year fixed rate AMTN transaction, at 170 basis points over swap, lead manager ANZ said.

The deal, upsized from the initial launch size of A$200 million, was priced at the tight end, the manager said.
The joint lead managers for the transaction were ANZ and CBA.

“This is a market-leading and innovative transaction and creates a very important new A$ pricing
benchmark for longer dated highly rated corporate paper,” Edwin Waters of ANZ said.

Credit Suisse Sydney prices A$600m Sept 2015 domestic FRN

Credit Suisse AG Sydney branch has priced an A$600 million 8 September 2015 domestic floating rate note issue at 158 basis points over BBSW, a joint lead manager told Insto.

The lead manager said the borrower had taken advantage of strong demand to tighten the pricing from initial guidance of 160 basis points, and increase the issue size from its initial A$500 million.

Credit Suisse Sydney branch is rated A+, Aa1 and AA- by S&P, Fitch and Moody’s. Lead managers were CBA, Credit Suisse and NAB.

RBS prices $A1.5bn 3-year fixed/FRN

Royal Bank of Scotland issued A$1.5 billion in a three-year fixed/floating bond, with maturity date 27 August 2013. Details are:

Fixed
A$750 million, coupon 7.25 percent

FRN
A$750 million, coupon 3-month BBSW + 245bps

Macquarie prices A$750m Puma P-16 RMBS

Macquarie Securitisation Limited priced its A$750 million Puma Masterfund P-16 RMBS, with five tranches at weighted average life ranging from 0.3 to 5.3 years.
The details are:

Issuer: Macquarie Securitisation
Size: A$750 million
Pricing: 26 August 2010
Settlement: 2 September 2010
Lead managers: Macquarie Bank, Commonwealth Bank, Deutsche Bank
 

National Wealth Management prices 5-year A$130m senior FRN

National Wealth Management has priced a A$130m senior FRN of its MTN program at 220 basis points over 3-month BBSW, lead manager NAB said. Details are as follows:

Issuer: National Wealth Management Holdings Limited
Rating: AA- (S&P)
Instrument: Floating Rate Notes
Issue amount: A$130 million
Coupon: 3 month BBSW +2.20%
Settle: 31 August 2010
Mature: 31 August 2015
Lead Manager: NAB
 

Rabobank Aus branch adds A$50m to July 2014 EMTN

Rabobank Nederland (Australia branch) issued a A$50 million increase to its 28 July 2014 EMTN program, taking it to A$150 million. The issuer is rated AAA (S&P) and Aaa (Moody’s). Lead managers are Rabobank International and TD Securities. Details are as follows:

Amount: A$50 million
Coupon: 5.75 percent
Issue price: 102.115 percent + 37 days accrued interest
Maturity: 28 July 2014

(Adds EMTN fact.)

Caterpillar A$50m Jun 2012 increase

Caterpillar issued a A$50 million increase to its 29 June 2012 bond. The coupon is the 3-month BBSW plus 125 basis points. The tap brings the June 2012 program to A$200 million. Caterpillar is rated A stable (S&P) A2 stable (moody’s) A stable (Fitch). Sole lead manager is ANZ.