Kauri conditions coalescing but few other bright spots in troubled market

In a week overshadowed by global turmoil, just one deal priced in the Australian public markets. On the other side of the Tasman, World Bank (AAA/Aaa) issued a new Kauri deal on August 3 as market participants report that Kauri pricing levels have become more attractive in recent times. However, with investors' name-specific appetite divergent what remains uncertain is which borrowers are most likely to be able to seize future issuance opportunities.