BNP Paribas and KangaNews convened their longstanding roundtable for corporate issuers in Sydney in July. Participants share a detailed view of a global market in which liquidity continues to outstrip credit supply by a significant margin – and where issuers hold the whip hand as a consequence. There are still challenges for responsible issuers, however.
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UOW adds eight-year tenor to potential deal
On 4 December, University of Wollongong (UOW) (AA by S&P) revealed it is considering eight-year tenor in addition to a 20-year tranche for a potential Australian dollar denominated deal initially announced on 24 November. National Australia Bank is leading.
Avanti launches A$25 million Kangaroo deal
On 3 December, Avanti Finance (BB by S&P) launched a new A$25 million (US$18.5 million), four-year, Kangaroo transaction. The deal is being marketed with an indicative coupon of 5.75 per cent and is expected to price on the day of launch. National Australia Bank is leading.
Ampol fills up capital position with new hybrid
Ampol became the latest Australian borrower to tap the hybrid debt market, on 30 November. The issuer says the transaction had been on the cards since late 2019 and that it drew strong support from an investor base that was largely familiar with issuance under its previous guise of Caltex Australia.