Contact Energy (Contact)’s new sustainability-linked loan (SLL) incentivises improvements in areas such as corporate governance, stakeholder engagement and environmental impact. Participants in the deal believe that the SLL product will be applicable for a broad set of borrowers in New Zealand as it is elsewhere.
ASX-listed nonrated corporate SEEK brought to market on 11 December a subordinated deal – a somewhat rare occurrence – to diversify its funding sources as it continues to grow. Despite being down the capital stack, deal sources say, investors were eager to participate in a transaction from a household name with an attractive yield.
Synlait Milk (Synlait) printed the largest unrated deal in the New Zealand market since 2011 with its inaugural transaction, KangaNews data shows. The issuer came to market to diversify its funding sources as it expands.