When Australia went into lockdown, transport and shipping infrastructure saw an unprecedented business shock. Airport and toll-road passenger numbers collapsed while even freight flows dropped as the global economy ground to a halt. In October, KangaNews and Westpac Institutional Bank gathered key players in the Australian sector to discuss business impact, balance-sheet resilience and the swift rebound of debt capital markets including the domestic option.
The economy-wide impact of COVID-19 has affected Australian corporate borrowers in a host of ways. But access to funds has generally remained in place as issuers navigate a path back to some type of normality – even for those in the most affected sectors.
The KangaNews Market People of the Year are the individuals who voters in the KangaNews Awards 2019 believe went above and beyond their roles to contribute to the development of the Australian and New Zealand debt markets. There are no restrictions on the firms, positions or seniority of winners – voters are simply asked to consider who contributed most to the market in either or both 2019 specifically or across the span of a career.
An extended issuance hiatus could slow progress, but Australian corporate borrowers continue to show willingness to engage with new sustainability-linked products. Sydney Airport and Wesfarmers have completed new sustainability-linked funding – the former as the first such issuer in any global bond market.
Sydney Airport’s market leadership, and the willingness of US private placement (USPP) investors to provide structural flexibility in transactions, were crucial to the execution of the world’s first sustainability-linked bond (SLB) with two-way pricing. Deal sources are bullish on proliferation of the product.
KangaNews is proud to present the winners of the institutional and deal categories in the KangaNews Awards 2019. After an extensive voting and verification process, KangaNews can confidently say its results reflect a true market view on the outstanding performers of 2019 in the Australian and New Zealand debt markets.