Kathmandu tackles apparel industry’s problems in SLL
Kathmandu Holdings’ well-defined sustainability strategy enabled it to easily align its financial arrangements with the metrics of a sustainability-linked loan. The issuer says addressing the apparel sector’s industry-wide problems in the metrics was key to getting the loan over the line.
Unprecedented conditions drive Westpac’s senior return
Westpac Banking Corporation visited the US dollar market on 25 May to print the first major-bank senior-unsecured term benchmark deal since the onset of the COVID-19 crisis. The issuer says market conditions and a desire to extend its maturity profile were key reasons for the transaction, adding that a return to something close to pre-crisis senior funding frequency is now coming into view.
Not older, but Wisr still gets solid demand for its ABS debut
Wisr’s debut unsecured personal loan-backed securitisation transaction attained a triple-A rating for the structure’s senior notes – a rare feat given the sponsor’s relatively short origination track record. Deal sources say investor interest was robust with accounts willing to engage with the asset class’s risk profile.
Australian Unity Bank opens new funding avenue
Australian Unity Bank says the debut internal securitisation it recently completed adds another funding tool to support growth. The bank tells KangaNews this is one of many avenues it is currently pursuing in an increasingly challenging environment for the mutual-bank sector as a whole.
Good fortune for SkyCity’s domestic market return
SkyCity Entertainment Group has returned to the New Zealand domestic market – for the first time since 2015 – with a new six-year deal. Market tailwinds in the week of execution allowed a favourable margin revision for a borrower that acknowledges COVID-19 disruption but says it is emerging robustly from the pandemic.