SYDNEY: Macquarie Bank has released price talk for its inaugural offering of Pro bonds via joint lead managers SMBC Nikko and Citigroup.
Price guidance levels for the senior unsecured fixed-rate bonds at tenors of five and years years are yen offer-side swaps plus 15bp area and 20bp-25bp, respectively.
This is equivalent to three-month US Libor plus 77bp area and 93bp-98bp with the A2/A/A rated bank to consider issuing floating-rate note tranches, depending on investor demand.
Pricing is scheduled for late next week with the notes expected to be issued on March 23.
Macquarie Bank recently registered a US$25bn debt instrument programme on the Tokyo Stock Exchange, a first for an Australian lender, which allows it to issue Pro bonds.
These bonds are denominated in yen, but with less-onerous disclosure requirements than for Samurai bonds with filings in simplified English as in EMTN programmes.