Synlait eyes expansion with inaugural deal
Synlait Milk (Synlait) printed the largest unrated deal in the New Zealand market since 2011 with its inaugural transaction, KangaNews data shows. The issuer came to market to diversify its funding sources as it expands.
Market getting to grips with ARR necessity, SAFA says
This year has been a landmark for the adoption of alternative reference rates (ARR) in the Australian market and South Australian Government Financing Authority (SAFA)’s second deal linked to the Australian Overnight Index Average (AONIA) has capped it off. The issuer says engagement in the Australian market has reached a new level of maturity.
RBNZ allows AT1, extends implementation period for new capital requirements
On December 5, the Reserve Bank of New Zealand (RBNZ) revealed its final determination on new capital requirements for domestic banks. Banks will still have higher capital requirements but the regulator has elected to let them fund part of these with redeemable additional tier-one (AT1) instruments and is also granting a longer implementation period.
Read more: RBNZ allows AT1, extends implementation period for new capital requirements
NAB opens two alternate capital funding avenues
Investor diversity was front of mind recently for National Australia Bank (NAB) with two esoteric capital transactions in as many days. The major banks face increased capital requirements and NAB says developing new avenues to achieve funding and investor diversity is crucial.
KangaNews Awards 2019: winners announced
KangaNews is proud to present the winners of the institutional and deal categories in the KangaNews Awards 2019. After an extensive voting and verification process, KangaNews can confidently say its results reflect a true market view on the outstanding performers of 2019 in the Australian and New Zealand debt markets.