Toyota Australia looks offshore to meet increased funding task
Toyota Finance Australia (Toyota Australia) priced its largest-ever euro deal on 1 April. The issuer says an increased funding task since entering into a global partnership with Mazda Motor Corporation is leading it to lean more on offshore markets and is also seeing it consider public issuance in alternative asset classes.
Read more: Toyota Australia looks offshore to meet increased funding task
Housing NZ ticks the boxes in sustainability bond debut
New Zealand’s environmental, social and governance (ESG)-themed bond market took another giant leap on 28 March, with the pricing of Housing New Zealand (Housing NZ)’s debut sustainability bond. The deal nearly doubles the total size of the New Zealand ESG-themed market and drove investor diversity and a positive pricing outcome for the issuer.
Read more: Housing NZ ticks the boxes in sustainability bond debut
Peet gets set for property market upside
Peet came to the market for its fourth debt capital market transaction on 26 March, with the issuer raising capital to position itself for opportunities that it believes may arise as a result of a property market sell-off. The deal’s lead says the nonrated corporate market continues to provide attractive opportunities for issuers and investors.
MUFG Auckland brings more diversity to New Zealand FI market
MUFG Bank Auckland Branch (MUFG Auckland) priced its inaugural New Zealand dollar deal on 27 March. A growing New Zealand dollar balance sheet led to the decision to seek domestic funding, according to the issuer, while leads insist the credit occupies an attractive space in New Zealand’s financial-institution (FI) landscape.
Euro market to the fore for Australian corporates as demand rallies
Two Australian corporate borrowers accessed the euro market in the week beginning 18 March. Deal sources say Telstra Corporation (Telstra) and Scentre Group (Scentre) took advantage of the euro’s current status as the most competitive global funding option for Australian issuers to price 10-year deals, each with negative new-issue concessions.