ANZ’s market return from all angles
ANZ Banking Group’s capital-markets return, on 19 August, marked the first major-bank domestic tier-two deal since late 2019 and the sector’s first Australian dollar green, social and sustainability (GSS) bond since 2017. It is ANZ’s third transaction under its SDG framework, which aligns use of proceeds with the UN Sustainable Development Goals, having previously only issued in the euro market.
Wellington Airport well-placed to manage latest COVID-19 outbreak
Wellington International Airport has issued New Zealand’s first public domestic corporate bond since the COVID-19 crisis began, just days before new local cases were detected on 11 August. Lack of supply helped the airport complete the early refinancing of a May 2021 maturity.
RBNZ expands LSAP programme but remains confident amid local outbreak
The Reserve Bank of New Zealand (RBNZ) has expanded its large-scale asset purchase (LSAP) programme to NZ$100 billion (US$65.4 billion) from NZ$60 billion and extended its duration to June 2022 from May 2021. In the same 12 August announcement, however, the reserve bank also expressed its confidence that New Zealand had contained the spread of COVID-19 despite the emergence of an outbreak on the previous day.
Pepper returns with quick-fire RMBS
After issuing PRS 26 in June, Pepper Group returned with its PRS 27 residential mortgage-backed securities (RMBS) deal on 12 August with, the issuer says, renewed support from offshore investors.
Market expecting more purchases following RBA direct hit
The Reserve Bank of Australia (RBA)’s first purchase of Australian Commonwealth Government Bonds (ACGBs) since May has opened a debate on the ongoing purpose of asset purchases. Three-year sovereign-bond yield is close to the RBA’s 0.25 per cent target but analysts still expect further near-term intervention.