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Wednesday, 05 August 2020
Aug/Sep 2020

BNP Paribas touts double impact of equity-index-linked green-bond structure

BNP Paribas’s debut as a Kangaroo green-bond issuer also introduced a globally innovative structure to the local environmental, social and governance (ESG) market. The transaction, which priced on 3 August, is a standard use-of-proceeds green bond that also rewards investors for the outperformance of a new forward-looking climate-transition equity index.

Wednesday, 27 May 2020

BNP Paribas launches five-year senior non-preferred transaction

On 27 May, BNP Paribas (A+/Aa3/AA-) launched a new five-year, Australian dollar denominated, senior non-preferred, benchmark transaction, offered in either or both fixed and floating-rate note formats. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 210-215 basis points area over swap benchmarks.

Tuesday, 26 May 2020

BNP Paribas preparing Australian dollar senior non-preferred transaction

Late in the Sydney day on 26 May, BNP Paribas (A+/Aa3/AA-) revealed plans for a new five-year, Australian dollar denominated, senior non-preferred transaction, offered in either or both fixed and floating-rate note formats. BNP Paribas, Commonwealth Bank of Australia, National Australia Bank and Westpac Institutional Bank have been mandated as joint lead mangers.

Friday, 22 May 2020

Shoppers and investors returning for Scentre

The cautious but early emergence of Australia and New Zealand from the COVID-19 crisis enabled Scentre Group to convey a positive forecast to debt investors in its recent US dollar deal. The result, deal sources say, was an endorsement for the company and for the prospects of antipodean economic recovery.

Wednesday, 29 April 2020

Australia-to-Europe pipeline continues as APA returns

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.

Monday, 20 April 2020

Euro market continues to pay off for Australian corporates

Two more blue-chip Australian corporate borrowers have successfully printed deals in the euro market, despite not being eligible for the EU corporate-sector purchase programme (CSPP). Deal sources say euro investors are demonstrating ongoing appetite for high-quality corporate names.

Monday, 06 April 2020

Australian corporates looking to Europe need familiarity to succeed

Transurban’s euro transaction on 1 April marked the first time an Australian corporate has waded into public debt capital markets since the onset of the COVID-19 crisis. Deal sources say offshore liquidity has been strong but it took an issuer familiar to the market to take advantage.

Monday, 03 February 2020

Korea Resources Corporation explores debut Kangaroo transaction

On 3 February, Korea Resources Corporation (A/A1) revealed plans for a debut three- or five-year Kangaroo transaction. BNP Paribas, Citi and J.P. Morgan have been mandated to arrange a series of investor meetings and calls in Australia and Asia beginning 6 February.