GPT REIT issues first green bond
GPT Funds Management’s first green bond engaged new investors, with its 10-year tenor and use-of-proceeds format attracting a A$350 million orderbook from 35 accounts. With A$6.4 billion of eligible green assets, the firm says it has scope for future issuance.
Resimac breaks foreign-currency securitisation drought
Resimac’s Bastille Trust Series 2021-2NC is only the second Australian-origin securitisation transaction this year to include foreign-currency tranches. Execution certainty at attractive pricing levels drove the decision as the domestic market prepares itself for supply-side changes.
RBNZ turns up the heat on climate change action
The Reserve Bank of New Zealand aims to introduce a climate change scenario-based industry stress test by 2023 as part of its focus on the risk climate change poses to financial stability. It also says it is paying close attention to global moves to incentivise lending to environmental transition through the banking sector regulatory regime.
Kiwibank first to issue AT1 under new RBNZ rules
Kiwibank is the first New Zealand issuer to price an additional tier-one deal under the Reserve Bank of New Zealand’s new bank-capital definitions. The transaction was popular with retail buyers – nearly three times oversubscribed – as the domestic market continues to rally.
Market gains clarity on impact of CLF changes following BOQ’s deal
All eyes were on Bank of Queensland’s latest five-year senior-unsecured transaction as the secondary-market curve widened in the wake of changes to the committed liquidity facility announced last month. The issuer tells KangaNews demand for the deal was above expectations, with strong participation from real-money investors.