BOQ in clear space with CPT covered-bond programme
Bank of Queensland (BOQ) says its conditional pass-through (CPT) covered-bond platform offers an important point of funding differentiation following its second-ever euro deal in this format. At a time when a cluster of BOQ’s peers are pursuing residential mortgage-backed securities (RMBS) issuance, BOQ says CPT covered bonds offered an attractive cost of funds and further investor diversification.
KangaNews Fixed-Income Research Poll 2019: results announced
KangaNews is proud to reveal the results of its 2019 Fixed-Income Research Poll, in which Australian institutional investors are asked to vote for the best research providers across a range of sectors. The ninth iteration of the poll has a familiar look across most categories – consistency of performance is a hallmark of this survey – but there are still a clutch of changes at the top of specific categories.
Read more: KangaNews Fixed-Income Research Poll 2019: results announced
TCV borrowing task up on property market softness
On 27 May, following the release of the Victoria state budget, Treasury Corporation of Victoria (TCV) revealed a total funding requirement for the 2019/20 financial year of A$5.5 billion (US$3.8 billion). The task is an increase from the A$4.6 billion forecast 2018/19 requirement announced following the 2018 state budget.
Sydney Airport lands Australia’s first syndicated SLL and illuminates the flightpath for others
Participants in Australia’s first syndicated sustainability-performance-linked loan (SLL) say the product could catalyse a significant uptick in corporate engagement with environmental, social and governance (ESG)-linked funding. SLLs are becoming more prominent globally and Sydney Airport’s debut demonstrates that they can have wider applicability for corporate borrowers than other ESG debt instruments.
Kexim seeks domestic market bid in Kangaroo return
Maximising domestic investor engagement was a key strategy for the Export-Import Bank of Korea (Kexim) as it issued in the Kangaroo market for the first time this year. Kexim is also the first Korean entity to price an Australian dollar domestic deal in 2019.