Latest News
On 26 October, Bank of Queensland (BOQ) launched its additional tier-one (AT1) capital transaction, Capital Notes 2. The issuer intends to raise A$200 million (US$142.5 million) with the ability to raise more or less. The notes have an indicative margin of 380-400 basis points area over three-month bank bills, with the final margin to be announced on or before 2 November following a bookbuild.
Lendlease Group printed its debut green bond on 20 October to become the first nonfinancial corporate credit to print labelled green, social and sustainability (GSS) product in Australia this year. The issuer tells KangaNews its financing strategy now aligns with the business’s strong green credentials.
Green-labelled issuance was to the fore in a packed third week of October. New South Wales Treasury Corporation and Lendlease issued green bonds, while flexigroup and Brighte issued green asset-backed securities deals.
New South Wales Treasury Corporation (TCorp)’s November 2030 green-bond deal achieved wider distribution than any of its previous green, social and sustainability (GSS) bond forays, deal sources say. The issuer and leads say the deal benefited from latent demand for labelled product and other tailwinds supporting the semi-government market.
Woori Bank printed its first COVID-19-recovery Kangaroo sustainability bond on 22 October. Deal sources say earlier successful transactions from Korean-based issuers this year persuaded the bank to come to the Australian dollar market.
On 22 October, Bank of China Australia (BOC Australia) (A3/A-) mandated ANZ, BOC, Commonwealth Bank of Australia and Westpac Institutional Bank for its inaugural Australian dollar denominated, three-year, floating-rate note (FRN) transaction. The deal is expected to launch in the week beginning 26 October.