Adelaide Airport signs Australia’s first domestic sustainability performance loan
The new revolving loan facility Adelaide Airport signed with ANZ on 20 December is the first in Australia to feature a sustainability performance component. This “incentivises a borrower to even further improve its performance against a set of environment, social and governance [ESG] criteria” according to an Adelaide Airport statement.
TCorp’s 2018/19 funding requirement remains unchanged after mid-year review
New South Wales Treasury Corporation (TCorp) revealed an unchanged funding requirement of A$6.6 billion (US$4.7 billion) for the 2018/19 financial year on 18 December, following the release of the state government’s half-yearly review (see table).
Volume down but demand still evident for ABS
Non-residential mortgage-backed securitisation volume is significantly down in 2018 compared with recent years – primarily, sources insist, as a result of lack of supply by regular bank issuers. However, recent nonbank issuers in the auto asset-backed securities (ABS) space say investors are still eager for diverse product, resulting in well supported deals.
AOFM announces A$18 billion reduction to 2018/19 funding requirement
On 18 December, following the release of the Australian government’s mid-year economic and fiscal outlook (MYEFO), the Australian Office of Financial Management (AOFM) revealed a reduced 2018/19 financial year borrowing requirement of around A$52 billion (US$37.3 billion), down from around A$70 billion at the 2018/19 budget.
Global perspectives on bank funding
The international bank debt-issuance market is constantly evolving, with the emergence of total loss-absorbing capacity (TLAC) and renewed volatility among 2018’s most notable developments. KangaNews speaks to funding executives from Asia, Australia, Europe, Japan and North America to get the latest on market conditions and outlook.