Big-four banks’ 2018 funding underway as CommBank opts for sub debt
Commonwealth Bank of Australia (CommBank) elected to open its term-funding account for calendar 2018 with a long-dated and subordinated transaction because it spotted an “incredibly strong” market opportunity, issuer sources tell KangaNews.
Climate-awareness bonds set the early tone for Kangaroo SSA sector in 2018
The supranational, sovereign and agency (SSA) Kangaroo market reopened for 2018 with two European Investment Bank (EIB)-issued climate-awareness bond transactions that intermediaries hope will foreshadow another robust year in the sector. The benchmark volume of the initial transaction underscores solid investor confidence in Kangaroo SSAs, intermediaries insist.
Strategist outlook: waiting for inflation
In early December 2017, for the second year running, KangaNews invited debt strategists from the best-performing houses in its mid-year Fixed-Income Research Poll to a roundtable discussion to look at the year passed and to come. In a wide-ranging conversation, strategists share views on international and domestic market conditions, rates and yield directions and why inflation is the missing piece in the global recovery.
Corporate Australia on the record
The sixth annual corporate borrowers roundtable discussion hosted by BNP Paribas and KangaNews took place in December 2017, at the end of an interesting year for bond issuance by corporate Australia. Key corporate players discuss quantitative tapering (QT), regulation and what 2018 might bring.
SAFA revises down 2017/18 term funding requirement
On 21 December, South Australian Government Financing Authority (SAFA) revised down its gross-funding requirement by A$1.2 billion (US$919.2 million) for the 2017/18 financial year. Following the South Australian mid-year budget review, SAFA’s revised funding programme is A$3.6 billion.