Chain of influence
Australia’s national modern-slavery reporting deadline is looming, on 31 March 2021. There are capital-market consequences, most notably that buy-side firms are taking steps to ensure they have appropriate modern-slavery risk controls in place.
TCV updates 2020/21 borrowing programme with pre-budget issuance commitment
Treasury Corporation of Victoria (TCV) (AA/Aa1) revealed on 15 March that it expects to raise approximately A$4 billion (US$3.1 billion) prior to the release of the Victorian state budget in mid-May 2021. This includes proceeding with its planned new long-dated syndication – provided market conditions are conducive.
Resimac maintaining competitiveness with prime RMBS
Resimac’s first residential mortgage-backed securities (RMBS) foray for 2021 showcased the consistency with which it approaches funding markets, the borrower says. It also helped set internal pricing to maintain competitiveness in the hotly contested prime-mortgage origination market.
Basecorp reaches funding base camp with debut RMBS
Having priced its privately placed residential mortgage-backed securities debut, Basecorp Finance says it sees good opportunities for further growth in New Zealand’s nonbank lending sector and intends to build a presence in public capital markets.
Aurizon secures sizeable investor appetite despite headwinds
China’s ban on Australian coal has been one of the largest shocks to the industry in recent months. Nonetheless, Aurizon Operations received strong investor support for its transaction – albeit at a significantly wider price point to its triple-B rated peers.