Effective debut for Coles boosted by robust 10-year demand
Deal sources say Coles Group (Coles) was able to include a 10-year tranche in its first deal since demerging from Wesfarmers on the back of significant investor demand, while the issuer’s brand and deal preparation held it in good stead during a period of substantial deal flow.
Verizon extends Australian dollar tenor horizon
Verizon Communications (Verizon) returned to the Australian market for its second Kangaroo deal on 30 October. The transaction was smaller in size than the issuer’s Australian debut but still pushes the boundaries on Australian dollar tenor through the inclusion of a 20-year tranche with benchmark volume which compares with deeper global markets.
Vicinity heads to euro market to diversify and extend debt book
A desire to diversify its funding sources and extend the tenor of its debt book saw Vicinity Centres (Vicinity) make its debut in the euro market on 29 October. The issuer is keen to be a consistent euro borrower and says reliability of 10-year demand was a decisive factor in its market choice.
Blockchain bonds: concept proved, now for wider application
Participants in World Bank’s BOND-I transaction say it has proven correct many of the hypotheses around the potential for capital markets to use distributed-ledger technology (DLT). The challenge now is to achieve wider application so the benefits can be fully realised.
Origin makes long-awaited domestic return
Origin Energy (Origin) priced its first senior domestic deal since 2006 on 30 October. The issuer says it was able to capitalise on name-familiarity to attract significant levels of demand from investors in Australia and the region despite effectively being a new issuer in the Australian dollar market.