Australia’s first sustainability bond marks another step forward for SRI in Australia
Australian Catholic University (ACU)’s sustainability bond – the first for an Australian issuer and for a university anywhere in the world – is another critical step forward in building the local market for socially responsible investment (SRI), the deal’s arranger insists. The deal also underlines the domestic market’s capability, relative to other options, in providing reliable SRI funding.
Eyes on liquidity and line size as Kauri market shapes for H2 issuance pickup
Issuers and intermediaries in the high-grade Kauri market say pricing and demand fundamentals should be supportive of an improved H2 issuance outcome. Despite a slow period for new issuance of late, market users say the Kauri asset class has continued to develop in the background.
Responsible investment comprises nearly half Australia’s professional AUM, says RIAA
A report published on 25 July by Responsible Investment Association Australasia (RIAA) suggests that nearly half of all “professionally managed” assets in Australia were subject to some form of responsible-investment strategy in 2016. Most of this asset base is managed under what RIAA calls “broad” responsible-investment approaches, but the quickest growth is taking place in the more closely defined “core” category.
Investor engagement and persistence key in L-Bank’s 10-year Kauri
Deal sources in L-Bank’s third New Zealand dollar deal, and its first at a 10-year maturity, suggest its completion is the fruit of persistence and ongoing market engagement by the issuer. The transaction attracted robust domestic support, including one new investor to L-Bank’s bonds in any currency.
Read more: Investor engagement and persistence key in L-Bank’s 10-year Kauri
Liberty sees the fruit of its labour with record-breaking RMBS deal
Liberty Financial (Liberty)’s latest residential mortgage-backed securities (RMBS) deal is the largest ever by this or any other Australian nonbank issuer, and the biggest nonconforming securitisation in Australia since the financial crisis. The issuer ascribes its success to the inclusion of a euro-denominated tranche and conducive market conditions.