Port of Melbourne upsizes domestic return on bumper demand
Port of Melbourne says overwhelming investor support for its latest domestic transaction enabled a substantial upsize. The A$550 million (US$374.4 million) seven-year transaction comes after the issuer placed a multi-tranche US$602.8 million equivalent deal in the US private placement market in April this year.
Natixis spreads the word on balance-sheet-wide approach to climate impact
Natixis unveiled its “green weighting factor” (GWF) on 23 September, with the claim that this makes it the first financial institution to monitor and manage the climate impact of its whole balance sheet. Following a recent visit to Australia, Orith Azoulay, global head of the green and sustainability hub at Natixis in Paris, spoke to KangaNews about how the GWF allocates and adjusts financing to deals based on their ‘greenness’.
CommBank confident market is ready for AONIA-linked RMBS
Commonwealth Bank of Australia (CommBank) is seeking to demonstrate the viability of the Australian Overnight Index Average (AONIA) as an alternative reference rate (ARR) to the securitisation market through a first-ever residential mortgage-backed securities (RMBS) deal linked to the benchmark. The issuer says it is confident the market is ready for this type of issuance and expects all its future RMBS issuance to be AONIA-linked.
Citibank Sydney moves in on domestic FI issuance pause
Deal sources say Citibank Sydney Branch (Citibank Sydney)’s debut domestic deal attracted significant demand from Australia and Asia as the issuer was able to capitalise on a brief pause in Australian dollar financial institution (FI) issuance at the beginning of November.
NAB tests the waters for extended domestic tier-two tenor
National Australia Bank (NAB) tested domestic appetite for longer tier-two tenor with its first deal since Australian total loss-absorbing capacity (TLAC) rules were finalised. NAB says the support for the deal’s 12-year non-call seven (12NC7) duration illustrates underlying appetite for Australian major-bank credit in the tier-two space.