Asian demand for Australian credit likely to remain high
The Asian bid has been a major talking point in the Australian credit market in early 2024 and, while technical factors have provided a strong tailwind, market participants believe the outlook is positive for the medium term at least. Finding ongoing sources of bank and corporate supply may be a bigger concern.
A European flavour to burgeoning private credit sector
The emergence of private credit as an asset class in Australia began in the ultra-low rates environment ahead of and during the pandemic, but has only grown as overall interest in fixed income has grown in more recent times. The domestic market is still maturing and the focus of global interest is typically the US, but there are also private credit opportunities in Europe.
More domestic heat on show in HSBC’s first domestic tier-two Kangaroo
HSBC Holdings’ tier-two Kangaroo – priced on 14 March – is the bank’s first subordinated transaction issued in Australian dollars and its first Kangaroo in any format since 2010. With book volume once again impressing – this time for a less-trafficked asset class – deal participants say the trade reflects ongoing strength in the Australian market, including for higher-yielding instruments.
SAFA reflects on 100 per cent sustainable debt plans in wake of debut issuance
South Australian Government Financing Authority has been working on plans to map its whole debt book – and thus pave the way for a fully sustainability-labelled issuance programme – for a matter of years. In the wake of its debut labelled transaction, Peter King, head of financial markets and client services at the state issuer, talks to KangaNews about the reception and the importance of a programme that is unique in Australia.
KangaNews Awards 2023: Market People of the Year
KangaNews has announced its Market People of the Year 2023, at the KangaNews Awards Gala Dinner in Sydney on 19 March. These are the individuals who voters in the KangaNews Awards 2023 believe went above and beyond to contribute to the development of the Australian and New Zealand debt markets. There are no restrictions on the firms, role or seniority of winners – voters were simply asked to consider who contributed most to the market in either or both 2023 specifically or across the span of a career.