KangaNews DCM Summit RBA webinar
KangaNews hosted an exclusive briefing with the Reserve Bank of Australia (RBA) as part of the KangaNews Debt Capital Markets Summit 2020 online agenda. The reserve bank updated on the market-intervention measures it has rolled out since the start of the COVID-19 crisis while market participants discussed the RBA’s involvement from a range of perspectives.
Kāinga Ora goes long to meet demand
New Zealand’s ultra-low rates environment enabled Kāinga Ora – Homes and Communities (Kāinga Ora) to print a nominal bond transaction beyond 10-year tenor for the first time. The borrower says offshore participation in its deal was the highest it has experienced yet.
Execution certainty brings TCV back into the fold
Treasury Corporation Victoria (TCV) returned to the public syndicated market on 1 September having not printed a benchmark deal since mid-February. The issuer tells KangaNews lack of execution certainty kept its focus on reverse-enquiry and privately placed issuance until now.
CBA bides time for tier-two opportunity
Commonwealth Bank of Australia (CBA) joined Australia’s recent tier-two issuance line-up on 1 September, becoming the sixth Australian-domiciled issuer to bring a regulatory-capital transaction in just more than two weeks – five of them in the domestic market. CBA says it took its time after releasing annual results to launch the best possible deal.
Meridian rolls out all-green financing strategy
Meridian Energy became the latest New Zealand corporate issuer to certify its entire debt programme under environmental criteria, with the 26 August launch of its green financing programme. All Meridian’s debt instruments – a book totalling NZ$1.8 billion (US$1.2 billion) – are covered by the programme, which means its existing and, potentially, future domestic and US private placement issuance is now in green-bond format.