A surfeit of local and offshore demand for long-dated paper prompted another Australian corporate to execute a 12-year domestic deal. General Property Trust (GPT) says the tenor suited its debt maturity profile and interest from a cornerstone investor prompted its decision to execute.
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.
QPH Finance (BBB by S&P), the financing arm of Port of Brisbane, revealed plans for a potential Australian dollar denominated transaction. MUFG Securities and Westpac Institutional Bank have been mandated to arrange a series of investor meetings across Australia and Asia beginning 25 February.
On 18 February, Aurizon Network (Aurizon) (BBB+/Baa1) revealed plans for a potential 10-year or longer, Australian dollar denominated transaction. Mizuho Securities, National Australia Bank and Westpac Institutional Bank have been mandated to arrange a series of investor meetings across Australia and Asia in the week beginning 24 February.