Demand surge continues for semi-government syndications
Demand for syndicated primary issuance of semi-government paper continued through at least the last week of February, driven by relative value in the sector, a lack of other high-grade supply and, most recently, investor flight to quality.
Emirates NBD and FAB launch global FI Kangaroo issuance for 2020
Emirates NBD Bank and First Abu Dhabi Bank (FAB) returned to Australian dollar issuance in February after long absences. Deal sources say market conditions were conducive despite basis-swap headwinds earlier in the year.
Liberty a step closer to five-year unsecured goal
Liberty Financial (Liberty) has long held the objective of issuing senior-unsecured paper at five-year tenor. The issuer took another step in that direction with its first four-year deal, printed on 18 February.
New Zealand seeking to grow forestry debt instruments
Financing solutions and adaptation to climate change is stoking capital-markets innovation around the world. In New Zealand, increasing forest cover is key to meeting Paris Agreement targets – and local market participants are keen to germinate a specialised financing instrument to support progress.
AOFM returns to syndicated issuance
Australian Office of Financial Management (AOFM) broke its longest drought of syndicated issuance since it began this method in 2009 with its 19 February transaction. The deal received robust support from offshore and real-money investors.