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.
On 30 January, Housing New Zealand Limited, a subsidiary of Kāinga Ora – Homes and Communities (Kāinga Ora) updated the market on its plans for a new 2030 line and a tap of its 2025 line under its wellbeing bonds programme. Issuance in the week of 27 January is no longer being considered, but the issuer will continue to monitor the market in coming weeks.
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.