Anchored three-year yield spurs ASX to introduce five-year futures
Increased issuance from the AOFM – including targeting maturities of 3-5 and 10-12 years – and the Reserve Bank of Australia (RBA)’s intervention in the Australian sovereign bond market have accelerated Australian Securities Exchange (ASX) thinking about a new contract in its bond futures suite. The exchange is planning to introduce a new five-year contract by the end of the year.
Read more: Anchored three-year yield spurs ASX to introduce five-year futures
AOFM gives guidance for 2020/21 borrowing, including 2051 syndication
On 3 July, the Australian Office of Financial Management (AOFM) gave issuance guidance for the 2020/21 financial year, which will apply until the Federal government budget is handed down in October 2020. There is no formal overall volume stipulated, but the AOFM expects to continue to tender Treasury bonds at a rate of A$4-5 billion (US$2.8-3.5 billion) most weeks.
Read more: AOFM gives guidance for 2020/21 borrowing, including 2051 syndication
Insights from the corporate front line: Brisbane Airport and the COVID-19 crisis
Airports around the world have gone quiet as result of COVID-19, bringing corporate liquidity to the fore. Brisbane Airport Corporation was able to re-engage the Australian domestic market in late June for a deal it was looking to execute prior to the crisis. The airport’s head of corporate finance, Warren Briggs, speaks with KangaNews about the deal process and crisis management.
Read more: Insights from the corporate front line: Brisbane Airport and the COVID-19 crisis
Bluestone the latest borrower to benefit from securitisation support
Bluestone Group continued the steady flow of securitisation deals coming to market with a new residential mortgage-backed securities (RMBS) deal on 30 June. The borrower says government intervention paved its path to market and is allowing the nonbank lender to continue originating and securitising prime and near-prime mortgages.
NHFIC lands its largest deal yet
Growing subscription from community housing providers (CHPs) to National Housing Finance and Investment Corporation (NHFIC)’s programme led to the agency’s largest social bond to date.