Local senior-nonpreferred demand a highlight in BPCE Kangaroo
BPCE’s latest Kangaroo deal combined senior-preferred and senior-nonpreferred tranches for the first time in the Australian market since 2018. The borrower says its consistent issuance in Australian dollars is bringing greater investor engagement with each transaction.
AOFM well positioned for 2021/22 following A$14 billion syndication
The Australian Office of Financial Management issued its first syndication for calendar year 2021 on 13 April. Despite an improving budget position, the issuer says it was committed to establishing a new 2032 line this financial year.
IPL and G8 SLLs show sustainable-funding support for social and hard-to-abate outcomes
Incitec Pivot has completed a sustainability-linked loan (SLL) facility, a development the borrower and its sustainability structurer say demonstrates how this type of financing can be relevant even for companies in hard-to-abate sectors. In a further development for the Australian SLL market, G8 Education also recently signed a new facility with KPIs primarily linked to social outcomes.
Read more: IPL and G8 SLLs show sustainable-funding support for social and hard-to-abate outcomes
Rabobank Australia nets pricing record in market return
Rabobank Australia’s return to the domestic market yielded a pricing record in an Australian dollar financial institution market still running hot in the absence of local major-bank supply. But there is evidence from the Rabobank Australia transaction that some investors are becoming increasingly price sensitive.
Timing draws attention to Defence Bank’s inaugural RMBS
Defence Bank printed a substantially oversubscribed inaugural residential mortgage-backed securities deal on 31 March after initially planning the deal for the second quarter of 2020. The borrower says the long lead time for the transaction allowed for expanded investor relations in which it explained the unique characteristics of its loan pool to potential investors.