Online articles

  • Kiwi reflections

    Headline issuance numbers may not leap off the page, but the underlying story in the New Zealand debt market is one of positive foundations. The country has funding to find in the coming years, and the local debt market is well-placed to provide its fair share.
  • Australia grabs a bigger slice of New Zealand credit flow

    A quartet of Kangaroo deals priced in October took New Zealand-origin supply in the Kangaroo market to a new annual record. Deal sources say the evolution of the Australian credit market – especially increased consistency of liquidity at the 10-year mark – should keep the trans-Tasman option on...
  • Australia green-bond evolution paves way for KfW’s return

    The outperformance of KfW Bankengruppe (KfW)’s Kangaroo green bond in the secondary market relative to its vanilla bonds during 2017 has prompted two taps of this line in less than three months, the issuer says. KfW also discusses the opportunity set for the agency in the Kangaroo green-bond...
  • Australian capital optimisation evolving as ME Bank breaks new ground

    Leads and issuer on Australia’s third-ever wholesale additional tier-one (AT1) deal and the first to write off rather than convert at point of nonviability (PoNV) – as printed by ME Bank on 16 November – say the transaction demonstrates the continued evolution of bank capital optimisation.
  • Corporate Australia on the record

    The sixth annual corporate borrowers roundtable discussion hosted by BNP Paribas and KangaNews took place in December 2017, at the end of an interesting year for bond issuance by corporate Australia. Key corporate players discuss quantitative tapering (QT), regulation and what 2018 might bring.
  • Euro market proves fertile ground for Westpac’s latest green-bond foray

    Australian green and social impact bond issuance has gained momentum throughout 2017 both domestically and offshore. On 16 November, Westpac Banking Corporation (Westpac) extended its green bond programme to the euro market, pricing a €500 million (US$591.6 million) transaction.
  • Finding, and funding, the green mortgage

    The prominence of the residential sector within Australia’s economy and financial markets makes the mortgage a fascinating prospect for sustainable investment evolution. At the Australian Securitisation Forum’s annual conference on 21 November, two market participants closely connected with the...
  • KangaNews Awards 2017

    Since their introduction in 2007, the KangaNews Awards have been the most respected accolades given to participants in the Australian and New Zealand debt markets. The 2017 results recognise the proliferation of innovation that has taken place across a range of asset classes in the past year.
  • NRW.BANK looks to broaden presence in the Kangaroo space

    In July 2016 NRW.BANK, the state development bank for North-Rhine Westphalia, returned to the Kangaroo market after almost a decade, with a 10.5-year deal. The German agency followed with another transaction with the same tenor in October 2017. These deals form the first leg of the agency’s plan...
  • Nuance the watchword for Australian-market renaissance

    In a wide-ranging state-of-the-market perspective, Steve Lambert, executive general manager, corporate finance at National Australia Bank (NAB) in Sydney, attributes Australian transaction breakthroughs in 2017 to long-term positive trends on the demand side. The supply equation is more...
  • Offshore bid for Australian RMBS extends to nonconforming deals, issuers say

    A trifecta of nonconforming residential mortgage-backed securities (RMBS) deals priced early in Q4 – from Bluestone Group (Bluestone), Pepper and Resimac – serve to illustrate the ongoing positive demand story for the Australian asset class.
  • Productivity Commission’s GST bombshell could revolutionise state grants

    The report of Australia’s Productivity Commission into the way goods and services tax (GST) receipts are shared will, if adopted, entail a major revenue spike for Western Australia (WA). WA has seen its GST grants from the Commonwealth grants fall to less than 30 cents in the dollar GST raised in...
  • QBE believes gender-equality format doubled its RegS AT1 book

    QBE priced a new additional tier-one (AT1) transaction on 10 November, printing US$400 million in a no-grow deal with a May 2025 first call date. In a first for the Australian market, the Reg S deal was issued in  accordance with an issuer genderequality framework. Paul Byrne, QBE’s...
  • Quick-fire return for Ausgrid as investors champ at the bit

    Ausgrid Finance (Ausgrid)’s selection of the Australian dollar market for its first public bond deal makes sense in the context of the issuer’s likely call on this market going forward, deal sources say. The issuer says it achieved a good pricing outcome while exceeding volume expectations,...
  • RedZed looks to the future after latest RMBS deal

    In the wake of its second residential mortgage-backed securities (RMBS) transaction of 2017, Evan Dwyer, managing director at RedZed Lending Solutions (RedZed) in Melbourne, gives KangaNews an issuer update as book growth makes the company a more frequent visitor to the securitisation market.
  • Securitisation looks to a brighter future

    With a record number of delegates registering, and coming towards the end of a postcrisis record year for issuance, the Australian Securitisation Forum’s annual conference featured a remarkably positive mood. Speakers discussed the growing international diversity of the Australian market,...
  • Strategist outlook: waiting for inflation

    In early December 2017, for the second year running, KangaNews invited debt strategists from the best-performing houses in its mid-year Fixed-Income Research Poll to a roundtable discussion to look at the year passed and to come. In a wide-ranging conversation, strategists share views on...
  • Taking stock

    As an intriguing – and productive – year in the Australasian corporate bond market draws to a close, it is worth looking back on how much progress has been made in nearly a decade since the financial crisis. Taking a longer-term perspective should also help shape a view about the extent to which...
  • Telstra unlocks Asian demand through debut Reg S-only deal

    Telstra Corporation (Telstra) printed its first Reg S-only deal in November. The transaction is the tightest ever issued by an Australian corporate in the US dollar Reg S market, leads say, and garnered solid Japanese take up.
  • The Enchanted Ball 2017

    More than 830 guests attended the Financial Markets Foundation for Children (FMFC)’s 2017 Enchanted Ball, at Atlantic at Docklands in Melbourne on 10 November 2017. They enjoyed the opportunity to mingle, indulge in a three-course meal and be entertained by Matt Hetherington and the Matt...
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