Kexim scores amid Australian dollar supply gap
Export-Import Bank of Korea (Kexim) took advantage of its position as a known quantity in an Australian dollar market that is still short of primary supply to execute its largest-ever Kangaroo deal. The issuer says it is not affected by the basis swap issues that have plagued Kangaroo economics in 2020.
AsA nets investor support despite airline industry woes
Airservices Australia (AsA) returned to the domestic bond market in May at a time of unique uncertainty for the global aviation industry. As a government-owned and triple-A rated corporate entity, AsA also lacks obvious pricing comps. Neither factor proved an impediment to a well-supported transaction, deal sources say.
WATC maintains funding strategy amidst COVID-19 crisis
Western Australian Treasury Corporation (WATC) says issuing a new 2031 line was always part of its long-term funding strategy even before semi-government borrowers faced a substantially higher funding need in response to the COVID-19 crisis.
Shoppers and investors returning for Scentre
The cautious but early emergence of Australia and New Zealand from the COVID-19 crisis enabled Scentre Group to convey a positive forecast to debt investors in its recent US dollar deal. The result, deal sources say, was an endorsement for the company and for the prospects of antipodean economic recovery.
AOFM and ASF give update on forbearance SPV
The Australian Office of Financial Management (AOFM) and Australian Securitisation Forum (ASF) are finalising terms for a forbearance special-purpose vehicle (SPV), designed to provide relief to nonbank and small bank lenders with securitisation trusts affected by forbearance on loans as a result of COVID-19.