On 21 January, Housing New Zealand Limited (AA+/Aaa), a subsidiary of Kāinga Ora – Homes and Communities (Kāinga Ora), mandated ANZ, BNZ and Westpac Banking Corporation New Zealand Branch to arrange a global investor conference call on 23 January regarding the borrower’s increased borrowing protocol limit, as well as a potential increase to the issuer’s June 2025 wellbeing bond and a new 2030 wellbeing bond. The transactions may launch as early as the week beginning 27 January.
On 16 January, Housing New Zealand Limited (Housing NZ), a subsidiary of Kāinga Ora – Homes and Communities (Kāinga Ora), announced a NZ$2.5 billion (US$1.7 billion) wellbeing bond programme for the 2020 calendar year. It comes after the borrowing protocol limit for Kāinga Ora increased from NZ$3.05 billion to NZ$7.1 billion.
Australia has come a long way in the evolution of sustainable finance. Participants at the annual roundtable for the KangaNews Investing with Impact Yearbook agree that the conversation is moving towards a holistic assessment of environmental, social and governance (ESG) performance as opposed to a narrow focus on use-of-proceeds products. There is also bigger emphasis on transition in the sustainable-finance sector – a highly salient topic for the Australian economy. This could help further broaden the universe of entities that will work on integrating sustainability into their business practices.