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APT Pipelines, the borrowing entity of APA Group, has returned to the euro market for the first time since its 2015 debut. Deal sources say the borrower’s credit story and lack of exposure to oil enabled a successful transaction amidst a pocket of volatility.
The following interview is with an Australian-based speciality debt investor. It was conducted on 24 April 2020.
Late in the day on 28 April, KfW Bankengruppe (AAA/Aaa/AAA) launched a minimum A$150 million (US$97.4 million) increase to its June 2022 Kangaroo bond. The forthcoming deal is being marketed at 41 basis points area over semi-quarterly swap, equivalent to 41 basis points area over Australian Commonwealth government bond. Pricing is expected on 29 April, says sole lead manager RBC Capital Markets.
The following interview is with an Australian-based corporate treasurer. It was conducted on 24 April 2020.
In March, Europe’s technical expert group on sustainable finance (TEG) delivered the final report on the EU’s taxonomy for climate change mitigation and adaptation. The taxonomy – and the green bond standard (GBS) that is expected to follow it – will have global ramifications for sustainable finance including opportunities and challenges for Australasian market participants.
Fitch Ratings and KangaNews have been conducting the Fixed-Income Investor Survey since the first half of 2014. The 2020 iteration combines a deeply negative outlook with vast areas of uncertainty to produce the survey’s most worrying set of data ever.
The Reserve Bank of Australia (RBA) jumped into the fog of dislocated debt capital markets in March with an unlimited government and semi-government asset purchase programme. Local investors are contemplating a cascade of market consequences.
One easy conclusion to draw about the COVID-19 pandemic is that the measures put in place to fight it will cause unemployment to rise precipitously. Anticipating this, lenders have already begun offering loan payment holidays and other types of forbearance.
The following interview is with an Australian-based fixed-income investor. It was conducted on 22 April 2020.