Port of Melbourne
Australian corporate credit on the rebound
Investment-grade corporate Australia has weathered the COVID-19 crisis better than could have been expected as the pandemic accelerated in March and April 2020, according to participants at a Fitch Ratings-KangaNews roundtable at the end of the year. A supportive local debt market was just one of the factors behind this resilience.
Corporate Australia should be rewarded for cautious approach and economic resilience
After a year of limited capital market issuance – domestically and offshore – there might be grounds for pessimism in the Australian corporate debt market. But a group of analysts, issuers and investors who gathered at a discussion hosted by Fitch Ratings and KangaNews in November 2022 say Australian credits are relatively well positioned as and when confidence returns to the market, despite the obvious challenges of the past year.
Australian credit market confident on economic recovery and market outlook
Australia’s corporate debt market has performed well despite two years of pandemic-related disruption to businesses and – at times – market function. Participants at a Fitch Ratings-KangaNews roundtable at the end of 2021 discuss market evolution, the 2022 outlook and the prospect of further sustainability integration into fixed income.
Port of Melbourne prints A$350 million senior-secured transaction
Port of Melbourne launches seven-year senior-secured deal
Lonsdale Finance (Baa2/BBB), the financing arm of Port of Melbourne, launched a seven-year, Australian dollar denominated, senior-secured transaction on 8 October. Indicative price guidance for the forthcoming deal is 180-185 basis points area over swap benchmarks and is expected to price on the day of launch.
Port of Melbourne considering seven-year domestic transaction
On 30 September, Lonsdale Finance (Baa2/BBB), the financing arm of Port of Melbourne, revealed plans for a group investor update on 6 October regarding a potential seven-year, Australian dollar denominated, senior-secured transaction. ANZ, Commonwealth Bank of Australia and National Australia Bank are joint lead managers for the deal, while Bank of China is a passive lead manager.
