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BNP Paribas’s debut as a Kangaroo green-bond issuer also introduced a globally innovative structure to the local environmental, social and governance (ESG) market. The transaction, which priced on 3 August, is a standard use-of-proceeds green bond that also rewards investors for the outperformance of a new forward-looking climate-transition equity index.
Following the pricing of its longest-dated syndicated deal, on 30 July, New Zealand Local Government Funding Agency (LGFA) says the deal harnessed momentum generated in the long end by recent syndications from the Australian and New Zealand sovereign borrowers.
Ausgrid Finance returned to the Australian dollar market for only its second domestic transaction, on 29 July. The issuer says it saw a window of opportunity to refinance debt ahead of schedule and moved quickly to take advantage of conducive issuance conditions.
The Australian Office of Financial Management (AOFM)’s June 2051 syndication reaffirmed offshore investors’ interest in the long end of the government bond curve, having taken longer to recover from COVID-19 volatility.
Pricing in the Australian dollar supranational, sovereign and agency (SSA) market remains dislocated, intermediaries say, based on lack of alignment between domestic investor and offshore borrower pricing expectations. A number of factors are at play, not least among them the record support SSA borrowers are receiving in global markets.
The Australian Office of Financial Management (AOFM)’s June 2051 syndication reaffirmed offshore investors’ interest in the long end of the government bond curve, having taken longer to recover from COVID-19 volatility.
KangaNews is pleased to announce the results of its 10th annual Fixed-Income Research Poll. The survey polls the opinions of institutional investors in the Australian fixed-income market on the research they receive across a range of sectors. This year’s results include a new winner in the coveted best overall provider category.
Resimac issued its second residential mortgage-backed securities (RMBS) deal since mid-March, this time from its Bastille nonconforming programme, on 23 July. The borrower says investor support, particularly from offshore, is promoting solid market conditions.
Port of Brisbane is the latest in a clutch of corporate borrowers to bring a deal initially mandated prior to the COVID-19 crisis. As a defensive credit, deal sources say the transaction – issued out of QPH Finance, met demand sufficient to facilitate substantial price tightening.
Australian Finance Group (AFG) achieved its largest-ever volume and deep engagement with offshore investors in its recent return to residential mortgage-backed securities (RMBS) issuance. The borrower says its unique position in the market has elevated its brand during the crisis.
In May, Commonwealth Bank of Australia (CommBank) and KangaNews undertook a ground-breaking research project to learn more about Australian fixed-income investors’ green, social and sustainability (GSS) strategies. The results of the Fixed-Income Investor GSS Survey shine the spotlight on a market that has evolved significantly but remains a work in progress.
Immediately after completing their Fixed-Income Investor GSS Survey, Commonwealth Bank of Australia (CommBank) and KangaNews convened a panel of leading Australian fixed-income investors to discuss and add colour to the survey findings. Investors explain why they think as they do on green, social and sustainability (GSS) issues and share views on how the space may evolve in future.