Social housing proves palatable in NHFIC’s inaugural deal
Australia welcomed its newest high-grade borrower and first programmatic social-bond issuer on 21 March, when National Housing Finance and Investment Corporation (NHFIC) priced its debut transaction. Leads say attractive credit fundamentals led to a well oversubscribed transaction supplemented by incremental demand from the social aspect.
Read more: Social housing proves palatable in NHFIC’s inaugural deal
KangaNews Market People of the Year 2018 announced
The individuals recognised as the KangaNews Market People of the Year in the KangaNews Awards 2018 were revealed for the first time at the KangaNews Awards Gala Dinner in Sydney on 19 March. The individual categories in the KangaNews Awards were open to participants across the Australasian debt markets.
Read more: KangaNews Market People of the Year 2018 announced
LGFA strategy evolution leads to record volume deal
New Zealand Local Government Funding Agency (LGFA) undertook its first-ever syndicated transaction on 12 March. The deal represents a change in strategy for the borrower, which deal sources say allows it better to engage domestic and offshore investors seeking larger allocations – an outcome that was evident in the record volume achieved.
Perpetual takes diversified high yield to retail
To coincide with the launch of a new credit income trust by Perpetual Investments (Perpetual), Michael Korber, head of credit and fixed income, and Anne Moal, senior high-yield analyst at Perpetual in Sydney, share their views on the state of play in the fixed-income market. The new trust provides investors with monthly income by investing in a diversified pool of credit and fixed-income assets.
Market maturity brings Incitec Pivot back to domestic issuance
Incitec Pivot priced its first Australian dollar deal in more than five years on 8 March. The issuer cites the increased availability of seven-year debt as a key factor in its return while deal sources say the rarity of the credit led to significant demand for the transaction.