ACT sets record volume in latest syndicated deal
Australian Capital Territory (ACT) priced its largest-ever bond deal on 13 August: a A$1 billion (US$679.4 million) transaction maturing in May 2025. Lead managers say the relative-value pick up of ACT to other triple-A semi-government borrowers and ongoing demand from bank balance sheets supported the book.
ING Australia’s second domestic covered-bond signals intent
ING Bank Australia (ING Australia) has issued its second domestic covered-bond transaction. The borrower tells KangaNews funding diversification was the primary driver but it aims to be a regular issuer in the format.
Winds of change in the domestic FI market
An influx of financial institution (FI) supply from outside the domestic major-bank space came to the Australian dollar market in July. Market sources say the reality of a likely decline in major-bank senior supply going forward – and consequently tighter big-four senior spreads – has caused demand to spike, supporting increased issuance diversity.
Property upgrades lead to another Australian green-bond market first
QIC Shopping Centre Fund defied volatile market conditions to exceed volume and pricing expectations in its first-ever green bond, which priced on 7 August. The issuer says the deal was the culmination of a significant process towards delivering sustainability outcomes and its result highlights the benefits of green, social and sustainability (GSS) bond issuance.
Green securitisation next step in Brighte’s accelerated funding journey
Supportive lenders, a commitment to high standards of governance from day one and appetite for high-quality assets have allowed Brighte to fast-track a public capital-markets debut that now looks likely to happen in 2020. The company has committed to provide green securities to the securitisation market and is exploring options for certification and assessment of its asset pool.