Smaller semis seize opportunities as conditions stabilise
Tasmanian Public Finance Corporation and Northern Territory Treasury Corporation issued new 2032 benchmark lines within days of each other. The issuers say market conditions have stabilised after almost a month of rates volatility, allowing for their sizeable prints.
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USPP support stands up despite quieter Australasian year
The US private placement market has long been a happy home for Australasian issuers. The annual USPP roundtable hosted by KangaNews and MUFG found that lower issuance in 2020 had nothing to do with lack of support from the investor base and that hopes remain high for future primary supply. USPP investors also share perspectives on the rapid growth in significance of environmental, social and governance analysis in their market.
Read more: USPP support stands up despite quieter Australasian year
Australian credit changes shape
The Australian dollar credit market has been reshaped in the wake of COVID-19, largely as a consequence of Reserve Bank of Australia market intervention. A supply-demand imbalance is evident and could potentially bring risk, but fund managers express a degree of comfort on the basis that their approach to allocation has not yet needed to change dramatically.
Australia’s big emitters strong on governance but lacking investment for transition
Australian companies included in the Climate Action 100+ benchmark display strong governance and disclosure but material commitments to investment and near-term GHG reduction are lacking. KangaNews spoke to Laura Hillis, Melbourne-based director, Climate Action 100+ at the Investor Group on Climate Change, about the aims, methodology and Australian results from the benchmark report.
Mercury finds liquidity in cool New Zealand corporate supply environment
Mercury NZ’s green-bond print on 19 March highlights significant ongoing demand for corporate debt in New Zealand amid a relatively quiet supply backdrop. Deal sources say pricing also illustrates the relative-value proposition of corporate bonds compared with bank debt.
Read more: Mercury finds liquidity in cool New Zealand corporate supply environment