UDC sale a potential boon for New Zealand securitisation market
UDC Finance’s sale by ANZ to Shinsei Bank has established what KangaNews understands is New Zealand’s largest warehouse facility. The issuer expects eventually to bring public term securitisation deals to New Zealand and could also access funding from further afield.
ADB approaching record Kauri issuance in 2020
Asian Development Bank (ADB) printed a quick follow-up to last week’s International Finance Corporation (IFC) Kauri bond, as New Zealand dollar issuance conditions remain favourable compared with US dollars. ADB has now issued close to NZ$1 billion (US$737.7 million) of Kauri bonds in 2020.
KEC talks funding strategy after Australian dollar debut
After establishing its Australian debt issuance programme in late July, Korea Expressway Corporation (KEC) issued its inaugural Kangaroo transaction on 26 August. The issuer tells KangaNews the deal priced inside its US dollar secondary curve.
Read more: KEC talks funding strategy after Australian dollar debut
ADIs to receive further TFF support
The Reserve Bank of Australia (RBA) announced in its September monetary-policy decision further support for Australian authorised deposit-taking institutions (ADIs) through an expansion and extension of the term funding facility (TFF). The measures are likely to increase overall TFF lending to around A$200 billion (US$148.1 billion).
IFC scores lowest-ever Kauri coupon
New Zealand’s government-bond rally and demand from local investors spurred International Finance Corporation (IFC) return to Kauri issuance. The deal is the supranational’s first benchmark New Zealand dollar deal in 2020 and features the market’s lowest-ever coupon.