WestConnex Finance Company and Lendlease Group completed 10-year domestic prints in the same week even though the tenor of Australian corporate issuance had shortened in the preceding period. Deal sources say borrowers and transaction specifics helped convince investors to consider longer duration despite growing reflation considerations.
On 25 March, Lendlease Group (Baa3/BBB-), via its financing company Lendlease Finance, launched its Australian dollar denominated, 10-year, benchmark green-bond deal. Indicative price guidance for the transaction is 215-220 basis points area over semi-quarterly swap. Pricing is expected on the day of launch.
Lendlease Group (Baa3/BBB-), via its financing subsidiary Lendlease Finance, began taking indications of interest for its new Australian dollar denominated, 10-year, benchmark, green-bond transaction on 24 March. Initial price guidance for the deal is 220-225 basis points area over semi-quarterly swap.
On 18 March, Lendlease Group (Baa3/BBB-), via its financing entity Lendlease Finance, revealed plans for a potential 10-year, Australian dollar denominated, benchmark, green-bond transaction. ANZ, Bank of China, Commonwealth Bank of Australia (CBA) and HSBC have been mandated to arrange a series of investor calls in the week beginning 22 March. ANZ, CBA and HSBC have also been mandated as green-bond advisers.
Sustainability can no longer be ignored by capital-market practitioners – according to participants at a February roundtable discussion hosted by KangaNews, Commonwealth Bank of Australia and Westpac Institutional Bank. Deal flow is likely to increase as a result, but the consequences are vastly wider and deeper.