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KfW Bankengruppe’s most recent tap took the issuer to its largest volume issued in the Kangaroo market since 2015, including its record for Australian dollar green-bond issuance. The agency says it is optimistic about future Kangaroo issuance prospects, noting incremental demand for green bonds and improved economics in the near term and over the course of the year.
New Zealand’s External Reporting Board has embarked upon a consultation with business on the first part of the standards underpinning the country’s mandatory climate-reporting legislation. The reforms – closely aligned with the Task Force on Climate-related Financial Disclosure recommendations – is making its way through parliament, though concerns about international compatibility remain.
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.
World Bank reopened the intermediate-to-long end of the Kangaroo SSA primary market last week, pricing a A$800 million (US$586.8 million) dual-tranche, sustainable-development bond. The deal breaks with the market’s recent pattern of shorter-dated supply.