Firstmac blockbuster caps securitisation surge
Firstmac’s latest residential mortgage-backed securities deal was the highlight of five nonbank transactions to print in the second half of April. The issuer achieved a volume and pricing record despite a crowded market.
Massive sustainable finance delta remains, CBI says
At a Climate Bonds Initiative event on 29 April, the organisation’s chief executive, Sean Kidney, said the difference between actual and required sustainable investment to meet the demands of green transition remain significant. He also outlined the risks to Australia in being a climate laggard.
S&P sees the bright side of the Australian banking landscape
S&P Global Ratings revised the outlooks on 17 Australian financial institutions to positive from stable on 27 April based on its view that the Australian banking industry risk trend – within its banking industry country risk assessment – is now positive. The improved outlook notably excludes the big-four banks, however, given their close ties to a negative sovereign outlook.
AIIB times Kangaroo debut to be first issuance under its sustainable-development framework
Asian Infrastructure Investment Bank took advantage of conducive market conditions and growing Australian dollar demand for sustainable debt to print its long-awaited debut in the Kangaroo market on 28 April. The issuer says an expanded, and fully sustainable, funding programme should support regular Kangaroo issuance.
Fixed-income investor survey: pandemic risks abating
The 2021 iteration of the Fitch Ratings-KangaNews Fixed-Income Investor Sentiment Survey suggests Australian investor concern about COVID-19-related risk has eased. The buy side expects lending conditions to loosen further and net issuance to rise across asset classes – all predicated on the expectation of and reliance on support from ongoing unconventional monetary policy.
Read more: Fixed-income investor survey: pandemic risks abating