Australian just transition requires financial innovation and social inclusion
Australia has plenty of work to do if it is to align capital and collaboration for a just transition to a sustainable, low-carbon future. Speakers at the Australian Sustainable Finance Institute’s conference in Sydney in October called attention to the financial sector’s role, responsibilities and opportunities to support First Nations Australians and amplify their voices in the wake of the failure of the Indigenous Voice to Parliament referendum.
Issuance capacity but no strategic shift for big-four funders
Australia’s big-four bank funders have enjoyed a notable uplift in domestic capacity for their wholesale issuance that became even more pronounced in 2023. Speaking at a KangaNews-RBC Capital Markets roundtable in Sydney in December, the issuers emphasised the value of a consistent issuance approach even in changeable conditions.
Read more: Issuance capacity but no strategic shift for big-four funders
Tier-two demand reaches new heights in ANZ’s domestic return
Late year investor engagement and strong fundamentals helped ANZ Banking Group to gather what it believes to be the equal largest book for an Australian dollar tier-two trade. The borrower says interest in the asset class continues to grow even after a successful 2023 for subordinated debt issuance.
Credit Agricole triples expectations in Kangaroo market return
Credit Agricole opened the Kangaroo market for financial institutions for 2024 with a record-breaking deal, the bank saying it chose an early-year window to secure a ‘first mover’ advantage amid a busy start for Australian dollar supply. Even so, the issuer also expressed amazement at the volume of interest in the book for its senior-preferred transaction.
Westpac opens market for domestic issuers
Westpac Banking Corporation says domestic liquidity levels and pricing are positive at the start of 2024, continuing the trend from last year. The bank kicked off issuance from domestic borrowers with a senior three- and five-year A$5.1 billion (US$3.4 billion) trade priced on 8 January.