Australia’s securitisation market continues to support robust volume
The issuers of two new residential mortgage-backed securities (RMBS) deals highlight engagement by investors – including offshore accounts – all the way down the capital structure as instrumental to volume outcomes. The distribution profile of both transactions demonstrates the extent to which the net is being cast wider.
Lack of mandate flexibility limits Deutsche Bahn’s domestic appeal
Issuer and investors say pricing on Deutsche Bahn’s debut Kangaroo deal worked for both sides. However, final book size may have been somewhat tempered by the fact that Deutsche Bahn falls into a mandate gap for some of Australia’s largest institutional accounts.
Contact lights the path for green corporate issuance in New Zealand
In August, Contact Energy (Contact) finalised a NZ$1.8 billion (US$1.3 billion) green borrowing programme – the first such certification completed by a New Zealand issuer and also the largest-ever single green certification by the Climate Bonds Initiative (CBI). KangaNews spoke to Louise Tong, Contact’s Wellington-based head of capital markets and tax, about the thinking behind the initiative, the process and debt-issuance plans.
Read more: Contact lights the path for green corporate issuance in New Zealand
World Bank reaps the benefits of a fully coordinated dual-currency approach
A perfect alignment of market conditions drove World Bank to use a unique approach to access Kangaroo and Kauri markets simultaneously in its latest transaction. The volume outcome demonstrates the value of World Bank’s strategy – most importantly its willingness to respond to demand conditions.
Latitude goes club-style for ABS return to lock in follow-up demand
Latitude Finance Australia (Latitude) capped the size of its second-ever public securitisation deal and ran a limited marketing process to reward investors that have consistently provided reverse enquiry since the issuer’s March debut. Latitude says further investor diversity remains part of its funding strategy and this goal will likely be to the fore in its next deal – which may be backed by different collateral.