Transurban stays the course to keep Westlink debt in Australia
Solid domestic real-money demand supported the long-dated, dual-tranche deal issued by WSO Finance (WSO), the financing entity of the Westlink Motorway Group and 50 per cent subsidiary of Transurban. The issuer tells KangaNews it had a strong preference to execute in the local market while lead managers note a positive shift in domestic investor sentiment.
Australia’s largest-ever green-bond deal marks the path to market growth, leads say
In the wake of the largest-ever green bond to price in the Australian dollar market – a capped A$750 million (US$575.1 million) seven-year issue by Queensland Treasury Corporation (QTC) – lead managers predict further evolution of the sector in 2017, including corporate supply. The state treasury corporation itself says it sees green bonds forming a regular component of its funding mix.
CUA the latest beneficiary of positive market as its programme grows
Having priced its second-ever public senior-unsecured transaction – with greater volume than the first and a substantial oversubscription – CUA says market conditions were conducive to its growing funding need. The issuer printed A$300 million (US$227.1 million) in a new floating-rate note on 9 March.
NAB prints A$500 million in a five-year gender-equality bond
National Australia Bank (NAB) (AA-/Aa2/AA-) printed A$500 million (US$384.5 million), upsized from A$250 million at launch, in a five-year fixed-rate social “gender-equality” bond on 17 March. The self-led transaction had initial price guidance of 95 basis points area over semi-quarterly swap.
Kangaroo strategy pays off for CAF as Australian investor interest notches up
Australian dollars remain an important and reliable route to market for CAF – Development Bank of Latin America (CAF) when its core markets are affected by volatility, the issuer tells KangaNews in the wake of its debut Australian dollar deal of 2017. The issuer says it is also beginning to reap the benefits of its engagement with domestic investors.