Argosy Property
New Zealand corporates return to green-bond market
As well as a clutch of mainstream corporate bond deals, the New Zealand market welcomed the return of corporate green-bond issuance in September. Mercury reopened the market with the first deal in nearly a year, followed in a matter of weeks by a third green-bond transaction from Argosy Property.
Green label sharpens pricing as Argosy returns
Argosy Property says its third green-bond deal attracted tighter pricing than comparable issuers’ conventional bonds and a good spread of investor interest. The borrower says the green label is one reason for the positive demand outcome.
Argosy Property prices NZ$125 million seven-year green bond
Argosy Property preparing seven-year green-bond transaction
On 9 October, Argosy Property revealed plans for a NZ$125-150 million (US$82.4-98.4 million), seven-year, senior-secured, green-bond transaction, offered to institutional and New Zealand retail investors. The deal is expected to launch in the week beginning 12 October.
Full pricing details on Argosy’s seven-year domestic green bond
Argosy launches seven-year domestic green-bond
On 14 October, Argosy Property (Argosy) launched a NZ$75-100 million (US$47.5-63.3 million), seven-year green-bond for New Zealand retail and institutional investors. The forthcoming deal is being marketed at 175-195 basis points area over mid-swap. Pricing is expected on 18 October, according ANZ which is arranger as well as joint lead manager alongside Forsyth Barr, Jarden Securities and Hobson Wealth Partners.