Fixed-income investor survey: investors put credit under the microscope
The latest iteration of the biannual Australian Fixed-Income Investor Survey, conducted by Fitch Ratings (Fitch) and KangaNews in the second half of March, suggests Australian fixed-income investors continue to believe credit fundamentals are robust even as their outlook becomes more cautious at the margin.
Developing demand key to New Zealand green-bond evolution
New Zealand’s green-bond market is still in its infancy, even though green issuance is potentially a natural fit for some of the biggest sectors of the economy. BNZ gathered market participants at a green bond seminar in Auckland in late April to discuss the challenges and how they can be addressed.
Read more: Developing demand key to New Zealand green-bond evolution
Investor-base growth leads to upsized deal for Liberty
Liberty Financial (Liberty) says its first residential mortgage-backed securities (RMBS) transaction for 2018 attracted a raft of new investors, contributing to the deal achieving total volume of more than double the launch target. The issuer attributes this result to its extensive investor-relations work.
TCV lowers funding-requirement forecast for 2018/19
On 1 May, following the release of the Victorian state budget, Treasury Corporation of Victoria revealed a funding requirement for the financial year ending 30 June 2019 of A$2.1 billion (US$1.6 billion). The requirement is lower than previously forecast, treasury forecasts from the May 2017 budget having indicated an expected funding need of A$4.6 billion for 2018/19.
Issuer insights on Ausgrid’s latest wave of deal action
Ausgrid Finance (Ausgrid) added to its landmark US private placement (USPP) and Australian domestic deals from 2017 in April, with a €650 million (US$793.6 million) and a dual-tranche US$1 billion 144A/Reg S transaction. Michael Bradburn, chief financial officer at Ausgrid in Sydney, shares exclusive insights on pricing objectives, market selection and sentiment with KangaNews.