Australian domestic corporate execution confidence returns, says GPT
Australia’s latest domestic corporate issuer tells KangaNews that robust demand and solid momentum in the nonfinancial corporate space provided it with an unprecedented level of execution confidence. The recent trend for 10-year tenor and more competitive pricing further drives domestic appeal.
Australian investor engagement with Kexim continues to grow
In the wake of the first Korean-origin Kangaroo transaction of 2017, The Export-Import Bank of Korea (Kexim’s) Seoul-based treasurer, Hee Sung Yoon, tells KangaNews greater domestic takeup of the deal is down to the issuer’s long-term engagement with the market. Kexim printed the A$500 million (US$383.7 million) deal on 7 February, in the first-ever three-tranche deal from a Korean credit in Australia.
Retail tier-two back on the register for NAB
Following the completion of the bookbuild of National Australia Bank (NAB)’s new tier-two deal – Australia’s first retail-targeted transaction for this asset class in three-and-a-half years – the deal’s arranger suggests there is a compelling reason for other issuers to consider a return to the listed arena.
QTC gets green light for climate-bond issuance
Queensland Treasury Corporation (QTC) took a step towards becoming Australia’s second semi-government green-bond issuer on 15 February, as it disclosed that it has secured preissuance certification from the Climate Bonds Initiative (CBI). QTC says it plans to arrange investor meetings “in the coming weeks” to discuss a green-bond transaction.
Another Australian market reopens with positive tone as BOQ returns to RMBS issuance
The generally upbeat tone of most Australian dollar issuance sectors at the start of 2017 appears to extend to the securitisation market, according to the issuer and arranger of the first deal to price this year. Bank of Queensland (BOQ) doubled the size of the new residential mortgage-backed securities (RMBS) deal it issued on 9 February, to A$1 billion (US$763.7 million), having not issued a benchmark securitisation since September 2015.