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The KangaNews Women in Capital Markets Survey (WICM Survey) is a centrepiece of the WICM Yearbook. Conducted in August, more than 150 women from across the Australian capital-markets landscape shared their views in response to a range of questions that highlight workplace gender diversity and the steps the industry can take to improve further.
An expanded pool of eligible green-bond projects, including many long-dated assets, and New Zealand’s interest-rate environment provided the catalyst for Auckland Council to print a 30-year green-bond deal. The issuer says the tenor is an important development and the success of its transaction should encourage others to test the water at extended duration.
Kiwibank says its credit growth is outstripping the incremental funding provided by central-bank facilities and deposit inflows, leading the borrower printing its inaugural Kangaroo covered bond on 16 September. Tim Main, Kiwibank’s Auckland-based treasurer, spoke to KangaNews about the deal.
World Bank’s latest New Zealand dollar transaction is the largest-ever Kauri deal with tenor longer than five years. With rates continuing to head lower in New Zealand, investor appetite for longer-tenor deals is apparent and matched World Bank’s desire to fund further out on the curve.
On 18 September, Athene Global Funding mandated BofA Securities, Deutsche Bank and RBC Capital Markets for a potential five-year, Australian dollar denominated, FA-backed, benchmark deal. A group investor call is scheduled for 21 September. The deal is expected to be rated A by S&P Global Ratings and A by Fitch Ratings.
On 18 September, Australian Gas Infrastructure Group (AGIG), on behalf of DBNGP Finance (DBNGP) (BBB/Baa2) and Energy Partnership Gas (EPG) (BBB+ by S&P), announced a consent solicitation process on its outstanding Australian dollar denominated notes.
On 17 September, International Finance Corporation (IFC) (AAA/Aaa) launched a NZ$200 million (US$133.8 million) minimum increase to its September 2025 Kauri. The forthcoming deal is being marketed at 27 basis points area over mid-swap, equivalent to 40.9 basis points area over New Zealand government bond. Pricing is expected on the day after launch, according to lead manager ANZ.
TransGrid printed its debut Australian dollar deal on 15 September and in the process continued a run of strong market outcomes for defensive local credits. The issuer was keen to establish a beachhead in its domestic market as it eyes a greater capex-related funding requirement in the coming years.
On 17 September, AusNet Services (A-/A3) mandated UBS, as sole structing adviser and lead manager alongside, ANZ and National Australia Bank to arrange a series of investors calls in the week beginning 21 September regarding an inaugural Australian dollar denominated, 60-year non-call five-year (60NC5), subordinated, benchmark transaction.