Maturity clears way for World Bank’s belated 2020 antipodean debut
A large maturity and pricing that has moved more in line with global markets allowed World Bank to make its first foray into antipodean markets for 2020 with a New Zealand dollar deal. Domestic balance-sheet support anchored the transaction, lead managers say.
Start your engines – Pepper and Liberty kick off auto ABS for 2020
Nonmortgage securitisation for 2020 got under way in January with auto asset-backed securities (ABS) deals from Pepper Group (Pepper) and Liberty Financial (Liberty). Ongoing investor appetite for diversifying collateral in the sector buoyed demand, deal sources say.
Dexus dozen breaks new ground in tenor for Australian corporates
Dexus Finance (Dexus) printed the largest Australian dollar true corporate deal at 12-year tenor on 23 January. Deal sources say a cornerstone investor enabled the issuer to launch confident of securing competitive pricing and liquidity at the extended duration.
Where to now? Simple corporate bonds still lack spark
The federal government is re-evaluating its plan to facilitate retail access to corporate issuers. However, industry sources doubt that even improvements to the simplified corporate bond regime will encourage supply.
More deals put Westpac ahead of funding requirement
Westpac Banking Corporation (Westpac) capped an active month of funding with US dollar tier-two and Australian dollar residential mortgage-backed securities (RMBS) deals on consecutive days. The issuer tells KangaNews it brought forward some funding to take advantage of strong conditions and is now well set for the near term.