Wesfarmers returned to the euro market, for the first time in seven years, with a sustainability-linked bond, reaffirming its ambitious targets amid softer market conditions. The borrower opted to retain the same sustainability-performance targets from its June Australian dollar debut, a decision issuer and leads say investors welcomed.
WOMEN IN CAPITAL MARKETS Yearbook 2021
KangaNews's annual yearbook amplifying female voices in the Australian capital market.
KANGANEWS SUSTAINABLE FINANCE H2 2021
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Early timing ensures Toyota Australia’s euro success
Toyota Finance Australia says executing at the very start of the year was a key aspect of its return to the euro market after an almost two-year hiatus, as it aimed to price before deal flow picks up in the weeks ahead. The issuer priced €1.15 billion (US$1.3 billion) of three- and six-year bonds on 5 January, a notably early start for Australian corporate issuance.
Activity review: filling the void
The lingering impact of fiscal stimulus continued to support a structurally altered Australasian debt market in 2021, transaction data from the KangaNews deal database show. Corporate and securitisation issuance capitalised on the absence of major-bank supply, while sustainability-aligned deal flow reached new heights.