New Zealand securitisation gets started as MTF returns
MTF opened the New Zealand dollar securitisation market for 2024 in what the issuer describes as a positive environment for structured finance issuance. A year since its last term deal, the borrower says loan origination determined the timing of market return but also suggests issuing first is a good way to ensure maximum support in New Zealand.
Another full, long-duration corporate book greets Stockland’s new deal
Stockland’s latest transaction in the domestic market was anchored by a jumbo cornerstone bid that accounted for more than half the deal. Even so, more than 50 investors supported the issuer’s decision to offer a 10-year transaction – a duration not achieved by a property-sector issuer in Australian dollars since 2021.
ESG nuance works for Aurizon Network in domestic market return
In pursuit of maintaining its domestic bond curve, Aurizon Network returned to the Australian dollar market for the first time in four years. The issuer reveals that the deal enjoyed abundant demand – which it ascribes to emerging understanding of nuance in sustainability as well as the ongoing positive backdrop for credit supply.
Securitisation demand supports record deal size from Athena
Demand for Australian dollar securitisation in early 2024 allowed Athena to print its largest-ever volume in its return to residential mortgage-backed securities issuance. Athena says the origination environment is “still very competitive” but it remains comfortable in its own book growth: it expects to hit a target settlement volume of A$2.5 billion this year, facilitating this scale of capital markets issuance.
Australian dollar issuance records smashed in 2023
KangaNews data for calendar year 2023 confirm that a raft of sectors in the Australian dollar market experienced record new-issuance volume last year. The financial institution space in particular also delivered a notable uptick in issuance diversity, across unsecured and securitised deal formats. Meanwhile, issuance in New Zealand was consistent year-on-year.
Read more: Australian dollar issuance records smashed in 2023