New Zealand catching up on ESG integration, fund managers say
New Zealand fund managers say their market has made great strides towards matching global standards for environmental, social and governance (ESG) integration in recent years. While the equity market has led the way – and expects to deliver more stringent exclusions and shareholder activism in future – there is also a growing focus on ESG in the fixed-income sector.
Read more: New Zealand catching up on ESG integration, fund managers say
Post-M&A debt diversification drive brings AT&T to Australia
AT&T’s debut Kangaroo deal, which priced on 14 September, marked the return of US corporate issuance to the Australian market for the first time this year. Deal sources say cash repatriation by major US corporate names has drastically reduced offshore issuance from US credits globally, but insist AT&T’s A$1.3 billion (US$949.2 million) result demonstrates that Australia remains open for business to this type of borrower.
Big-four funders talk strategy as the season changes
KangaNews and RBC Capital Markets hosted their annual roundtable for heads of funding at Australia’s big-four banks in Melbourne on 13 August. After an almost unprecedented period of benign market conditions, 2018 has posed new challenges and seen execution risk back on the table. The issuers acknowledge the revived headwinds but say they are well-placed to navigate them.
Read more: Big-four funders talk strategy as the season changes
New Zealand's government resets the platform
After delivering his keynote address at the sixth annual KangaNews New Zealand Debt Capital Markets Summit in Auckland on 8 August, Grant Robertson, New Zealand’s finance minister, shared thoughts on his government’s economic plans and the role of the financial sector.
SAFA reveals borrowing requirement for 2018/19
On 5 September, following the release of the South Australian state budget, South Australian Government Financing Authority (SAFA) revealed indicative gross funding requirement for 2018/19 of A$5.9 billion (US$4.3 billion).