ColCap continues RMBS momentum as mezzanine demand highlights hot start
An earlier than typical start to Australian securitisation deal flow in 2024 has allowed issuers to take advantage of largely supportive conditions on the buy side. In particular, pricing on mezzanine tranches continues to move tighter – as evidenced by the latest addition to Columbus Capital’s Triton programme.
DBS rides Australian dollar tailwinds to best-case scenario on pricing and distribution
A large and diverse orderbook combined with pricing flat to the local major-bank curve added up to the best of possible worlds for DBS Bank Australia Branch’s latest foray into the local market. The issuer says record book volume and the pricing outcome speak to a market that shows no sign of saturation.
Australian dollar product holds relative edge for Japanese investors as policy backdrop shifts
The rationale for Japanese investor engagement with the Australian dollar market should remain in place even if – as many on the local buy side increasingly anticipate – Japan’s monetary policy takes further steps toward normalisation in 2024. Meanwhile, Australian dollar spreads in most asset classes continue to stack up on a relative basis.
ICMA calls for early adoption of transition plans
On 14 February the International Capital Market Association released a paper titled Transition Finance in the Debt Capital Market. Two of the authors speak to KangaNews about the key callouts from this report, stressing that early voluntary moves will be the most effective way for fossil fuel companies and those in other hard-to-abate sectors to secure the scale of financing needed for their decarbonisation journeys.
SSA market embraces diversity to welcome CAF back with all-time biggest deal
The early weeks of 2024 welcomed record deal flow in the supranational, sovereign and agency Kangaroo market, but with the large majority of supply coming from the sector’s biggest and most frequent issuers. CAF – Development Bank of Latin America has demonstrated the market’s willingness to engage with a more diverse issuer by pricing its largest transaction in Australian dollars and its first of benchmark size since 2018.