UDC Finance prints record-breaking ABS debut
UDC Finance, New Zealand’s largest nonbank lender, completed a record-sized deal with the pricing of a NZ$400 million (US$280 million) auto asset-backed securities transaction on 23 September. Evolving momentum in New Zealand securitisation has changed the issuer’s thinking on likely need to tap foreign-currency markets for wholesale funding.
Securitisation issuers should embrace sustainability
Securitisers not embracing sustainability-aligned issuance could expose themselves to future pricing risk as investor mandates demand more green bonds, according to market participants speaking about a new Australian Securitisation Forum-Perpetual report.
Read more: Securitisation issuers should embrace sustainability
Retail flock to flurry of New Zealand corporate deals
The New Zealand corporate bond market has seen a flurry of recent deals aimed at retail investors, with more than NZ$1 billion (US$701 million) issued so far over September. Borrowers are taking advantage of heightened retail demand.
Pricing step change for Allied Credit in ABS return
Allied Credit’s second auto and equipment asset-backed securities transaction significantly improved pricing from its first, just under one year ago. The more pleasing aspect, however, was bringing in several new investors, according to the issuer.
CBA back to green with latest domestic deal
Commonwealth Bank of Australia’s recent green bond is the bank’s first since March 2017. The issuer says it is committed to supporting the growth of green issuance in the Australian dollar market and, while it is taking a conservative view on eligible assets, it expects supply capacity to grow over time.