Aurizon adds another link to Australia’s corporate deal chain
Aurizon Network returned to the Australian dollar bond market to term out bank debt taken on during the COVID-19 crisis. The issuer tells KangaNews discussions of the pandemic’s impact were more prominent than environmental, social and governance (ESG) questions in the deal process, while the issuer maintained support from the domestic and regional investor base.
Conditions stabilise for New Zealand corporates as investors flood in
A flurry of corporate deals have reopened the New Zealand market with high levels of demand, seemingly undeterred by the latest lockdowns. Deal sources say demand has always been present, especially in the retail space, but it is only now that issuers have been willing to test the waters for new issuance.
Surging corporate demand supports Coles’ rapid execution
Overwhelming investor demand for corporate paper in a busy week of issuance enabled Coles Group to execute a short transaction process off the back of its annual results and to achieve significant price tightening, deal sources say.
AOFM perspectives on another record-breaking syndication
The Australian Office of Financial Management (AOFM) broke its own syndicated volume record, for the third time in 2020, with its new November 2031 Treasury bond deal. The transaction took advantage of what the issuer says is the deepest demand point on the sovereign curve.
Tier-two tee-off
Four Australian issuers executed tier-two deals in the week of 17 August, reviving a subordinated debt market that had lain dormant since the onset of the COVID-19 crisis. Deal sources say demand for Australian tier-two paper is strong at home and abroad.