News
The 2023 KangaNews Women in Capital Markets Yearbook survey focuses on what women expect from their employers when it comes to purpose, values and public advocacy. The findings suggest financial services businesses should be careful to consider employees’ values if they want to attract and retain high-end female talent – and not be afraid to be public with these values.
Following its debut in the Kangaroo market, Mitsubishi HC Capital UK spoke to KangaNews about its plans for Australian dollar issuance as it seeks global growth. The scale of Australian dollar benchmarks and competitive pricing sent the issuer home with an outcome it hopes to build on with further future issuance.
While deal flow has slowed into year-end, a brace of benchmark transactions from International Finance Corporation in the Kangaroo and Kauri markets suggests the new year could be set for a fast start. In particular, after a tough year the Kauri market shows signs of promise now there is more clarity on how supranational issuers will be treated in the local regulatory regime for bank liquid assets.
The Australian Office of Financial Management and federal Treasury released the Australian government’s green-bond framework on 5 December – an important step toward the target of issuing Australia’s first sovereign green bond by mid-2024. The framework includes a tight eligibility window and thus a focus on new initiatives.
KangaNews is proud to announce the winners of the institutional and deal categories in the KangaNews Awards 2023. At the end of another busy year in the Australian and New Zealand capital markets, KangaNews received votes from hundreds of market participants keen to recognise the achievements of 2023's most outstanding performers.
Coles Treasury Group’s latest domestic deal hints at the potential of the Australian dollar market at the back end of what has turned into a solid but unspectacular year for corporate issuance. Coles bagged a jumbo book including ample long-end demand and its lead managers say other corporates are seriously considering the domestic market for issuance in the next post-reporting window.
With the success of its debut Kangaroo deal still fresh in the memory, New Zealand Local Government Funding Agency seized the opportunity to return to the Australian dollar market and capitalise on follow-up demand for its name. The issuer says its second Kangaroo deal maintained the combination of adding flexibility and diversity to its funding programme at an attractive price.
MA Money says it was rewarded for its decision to offer its debut residential mortgage-backed securities transaction as a fully public deal by earlier-than-expected demand from key international accounts. The issuer’s aim is to build a programme that reliably issues once or more a year and with this aim in mind it viewed a relatively early public debut as a key step toward investor diversification.
Contact Energy says it has long-term plans to build out its presence in the Australian dollar market following a well-received Kangaroo green-bond debut. The issuer is the fourth New Zealand-based corporate name to print an Australian dollar transaction this year and the second in November.
A desire to further diversify its investor base coupled with appealing landed cost of funds prompted Deutsche Bahn’s return to the domestic Australian dollar market. The deal’s combination of extended duration and high-quality credit appealed to international investors, especially in Asia-Pacific and the UK.
Port of Brisbane and Transurban Queensland’s return to domestic issuance was greeted with solid book volumes and significant margin progression. Deal sources say the much-heralded late-year uptick in Australian dollar corporate deal flow could still eventuate though a changing market backdrop and the limited execution window could make corporate supply fall short of expectations once again.
The Australian dollar securitisation market has continued to offer issuance opportunities for originators of a wide range of collateral despite revived rates uncertainty and an uncertain geopolitical backdrop. Recent issuers from outside the prime mortgage sector note ongoing supportive liquidity, improving pricing conditions and a noteworthy level of domestic investor support.