Meridian Energy
Meridian rolls out all-green financing strategy
Meridian Energy became the latest New Zealand corporate issuer to certify its entire debt programme under environmental criteria, with the 26 August launch of its green financing programme. All Meridian’s debt instruments – a book totalling NZ$1.8 billion (US$1.2 billion) – are covered by the programme, which means its existing and, potentially, future domestic and US private placement issuance is now in green-bond format.
Australasian sustainable finance reaching the tipping point
Sustainability can no longer be ignored by capital-market practitioners – according to participants at a February roundtable discussion hosted by KangaNews, Commonwealth Bank of Australia and Westpac Institutional Bank. Deal flow is likely to increase as a result, but the consequences are vastly wider and deeper.
A sustainable market takes shape in New Zealand
New Zealand's green, social and sustainability (GSS) bond market grew substantially in 2019 but is still concentrated around a fw repeat issuers. At the KangaNews-Westpac New Zealand Sustainable Finance Summit in Auckland in November 2019, market participants discussed developments in the GSS market and the wider application of sustainability.
Meridian Energy prices NZ$200 million seven-year domestic transaction
Meridian Energy launches seven-year domestic deal
Meridian Energy (BBB+/S&P) launched its NZ$150-200 million (US$105.4-140.5 million) seven-year domestic transaction to institutional and retail investors on 11 June. The forthcoming deal has an indicative margin of 130-140 basis points over swap, with the final margin and interest rate to be set following a bookbuild scheduled to take place on 15 June.
Meridian Energy plans seven-year domestic transaction
On 5 June, Meridian Energy (BBB+/S&P) began taking indications of interest for a NZ$150-200 million (US$105.4-140.6 million) seven-year domestic deal. The transaction is being offered to institutional and retail investors and is expected to open in the week beginning 11 June.
