Vicinity opens its domestic account with Australia’s largest property-sector deal since 2014
- Friday, 21 April 2017
Vicinity Centres (Vicinity) says all-in cost on its debut domestic transaction was very attractive even though some domestic investors reveal they sat the deal out based on sector preference and spread widening. Despite a slightly softer market backdrop, buy-side sources say they expect solid demand for corporate credit to continue.
Related news
Vicinity’s domestic print shows ongoing appetite for real estate
Vicinity Centres’ Australian dollar return provides another example of investor support for a wider range of corporate sectors – in this case, an oversubscribed book coming in for an issuer in the retail real estate sector as it seeks to move on from the pains of the pandemic. The issuer says domestic market conditions proved attractive for pricing and tenor.
Sydney Airport the latest domino to fall as Australia’s corporate market proves its mettle
Sydney Airport’s largest-ever transaction in the Australian dollar market – which is also its first public domestic deal since 2011 – provides another sign of growing corporate borrower confidence in the local funding option. The chance to access extended tenor at volume in line with a global core market benchmark print clearly moved the dial for an issuer that has historically been wary of the reliability of domestic issuance.