On 22 January, United Energy Distribution (UED) (A- by S&P) announced a consent solicitation process for its fixed-rate notes maturing in September 2023 and October 2024 and its floating-rate note due February 2023. The notes have outstanding volume of A$350 million (US$250.4 million), A$420 million and A$150 million respectively.
Investa Commercial Property Fund (ICPF) has closed a A$170 million (US$122.3 million) green loan having tagged its entire asset portfolio against the Climate Bonds Initiative (CBI) low-carbon-building criteria emission thresholds. The facility is bilateral with ANZ, but the borrower says green loans should be able to find new liquidity and pave the way for more downline green-bond issuance.
On 8 January, Stockland Trust Management (Stockland) (A-/A3) announced a consent solicitation process on its A$150 million (US$106.9 million) September 2019, A$160 million November 2020 and A$250 million November 2022 notes. The issuer is proposing amendments to the terms and conditions of the notes, such that they align with its senior-unsecured bank debt facilities and global senior-unsecured funding.
In late November 2018, KangaNews hosted its annual roundtable discussion for Australian fixed-income strategists. At the end of a turbulent year for markets and geopolitics, the discussion was unusually wide-ranging – taking in factors as diverse as the long-term status of the US dollar as global reserve currency, the duration of the Australian housing-market decline and the credit-supply outlook.