Westpac NZ looking to lead on climate-change finance
Westpac New Zealand (Westpac NZ) became the first New Zealand-based financial institution to issue a green bond on 18 June, with a €500 million (US$563.3 million) deal. The issuer says it wants to be a leader in the space and demonstrate the viability of the funding source to the local market.
Read more: Westpac NZ looking to lead on climate-change finance
Vicinity defies retail sentiment with latest domestic deal
Vicinity Centres (Vicinity) defied recent headlines around forecasts for the retail sector in its recent transaction, attracting significant demand from investors in Australia and Asia. Lead managers suggest that the issuer’s proactive engagement with investors and flexibility in meeting investor demand was key to the deal’s success.
TCorp to go big on infrastructure funding
On 18 June, following the release of the New South Wales (NSW) state budget on the same day, New South Wales Treasury Corporation (TCorp) revealed a borrowing requirement for the 2019/20 financial year of A$13.3 billion (US$9.1 billion). The requirement represents a A$1.4 billion increase from the estimate at the 2018/19 budget.
SAFA’s term-funding requirement down in 2019/20
On 19 June, following the release of the South Australia state budget on the previous day, South Australian Government Financing Authority (SAFA) revealed a term-funding requirement for the 2019/20 financial year of A$3.2 billion (US$2.2 billion). The issuer’s requirement is expected to decrease in the 2021 and 2022 financial years before increasing at the end of the out years.
PACCAR Financial’s quick return timed for domestic market boost
A dearth of public corporate issuance and clarity around interest-rate direction provided a window of opportunity for PACCAR Financial to bring a quickfire return to the Australian market. The transaction, the issuer’s second in nine months, was two-times subscribed based on a final book in excess of A$320 million (US$222.6 million).