World Bank sees Australian dollar market through first test as volatility rears
Lead managers say World Bank’s A$500 million (US$393.3 million) August 2028 Kangaroo print on 6 February was largely unaffected by the challenging backdrop which emerged after launch. However, while World Bank’s price and volume held up, renewed volatility is likely to keep other borrowers on pause – aided in part by the active start to the issuance year.
Liberty targets personal-loan price refinement with fintech acquisition
The rise of marketplace and fintech-led lenders could reshape the landscape of Australian securitisation in the coming years, as new market entrants seek to deliver superior risk pricing. Liberty Financial (Liberty) announced on 31 January that it is acquiring MoneyPlace, and 18-month-old marketplace lender, and Liberty’s Melbourne-based chief executive, James Boyle, talked to KangaNews about what the thinking behind the move.
Rating upgrade and unsatisfied demand leads UED to fine pricing
United Energy Distribution (UED) benefited from ongoing positive credit-market conditions as well as a boost to its own credit profile as it printed the Australian market’s first true-corporate transaction of 2018. Deal sources say demand remains robust but the outlook for supply is less clear.
Long-end Kangaroo market evolution takes another step forward
Higher Australian dollar yield has sparked recent growth in long-end Kangaroo deal flow – including a notable increase in transaction volume – market participants tell KangaNews. However, they believe it is too early to say whether more regular benchmark-sized issuance in the long end will establish itself as a consistent market feature.
2017 market data review: Australasian intermediary league tables
With debt-market issuance for 2018 now well under way, KangaNews looks back at the past year to review the final outcome of its Australian and New Zealand intermediary league tables in 2017. The stars are largely familiar faces but the billing order continues to shift – and the supporting cast features a few newer names.