On December 5, the Reserve Bank of New Zealand (RBNZ) revealed its final determination on new capital requirements for domestic banks. Banks will still have higher capital requirements but the regulator has elected to let them fund part of these with redeemable additional tier-one (AT1) instruments and is also granting a longer implementation period.
On 2 December, South Australian Government Financing Authority (SAFA) (AA+/Aa1) revealed plans for a potential minimum A$100 million (US$67.7 million) one-year, syndicated Australian Overnight Index Average (AONIA)-linked floating-rate note (FRN) transaction. UBS is sole lead manager.
National Housing Finance and Investment Corporation (NHFIC) targeted development of its investor base in it second bond transaction, which priced on 19 November. Issuance volume is limited by NHFIC’s clients’ need but the issuer says it has a pipeline to provide liquidity for investors.
As a growing group of borrowers become seasoned issuers in the green, social and sustainability (GSS) bond market, participants’ attention is increasingly turning to ongoing reporting on use of proceeds and sustainable assets. New South Wales Treasury Corporation (TCorp) took a lead position on reporting in October and followed a few weeks later with a second GSS bond.