NZGIF ready to accelerate emissions-reduction investments
New Zealand Green Investment Finance (NZGIF) is a pillar of the government’s strategy for the environment. The fund now has the green light to deploy its NZ$100 million (US$66.5 million) of mandated funds. Wellington-based chief executive, Craig Weise, speaks with KangaNews about the green bank’s flexible strategy, long-term horizons and how it will go about crowding in private-sector investment.
Australia’s big four hit multiple markets to start 2020
Australia’s major banks have hit the ground running in 2020 with three of the big four taking funding opportunities at home and abroad by 7 January and the fourth lining up a new trade. Despite developing domestic and international crises, the borrowers say markets have maintained momentum from 2019 and investors are prepared for a busy open to the year.
GSS bonds a different class from vanilla in New Zealand
The New Zealand Financial Markets Authority (FMA) revealed on 13 December its decision on same-class exclusion as it relates to green, social and sustainability (GSS) bonds. It stated that while it was open to granting individual exemptions for certain transactions, as a rule, GSS bonds would not be eligible for issuance under the same-class exclusion for a vanilla bond.
Investors on QE watch for 2020
The prospect of QE in Australia has loomed ever larger over the market in 2019 as the Reserve Bank of Australia (RBA) has moved into an easing cycle and the cash rate has approached the zero lower bound with little sign of a significant economic rebound. At Australian Securitisation 2019 in November, prominent Australian debt investors cast their eyes over the likelihood of Australian QE, what a local regime might look like, the potential consequences and what alternatives there are to stimulate the economy.
SEEK and you shall fund
ASX-listed nonrated corporate SEEK brought to market on 11 December a subordinated deal – a somewhat rare occurrence – to diversify its funding sources as it continues to grow. Despite being down the capital stack, deal sources say, investors were eager to participate in a transaction from a household name with an attractive yield.