AusNet’s Asian-driven 10-year result a shining light in a challenging market
Deal sources say AusNet Services’ success in placing a substantial 10-year Australian dollar transaction – with a significant oversubscription and minimal new-issue concession – reflects borrower specifics and momentum in the execution process rather than a widespread positive corporate issuance tone. A large bid from Asia drove the outcome but investors generally remain highly selective.
Australia Post reintroduces sustainability UOP as Australian corporate activity stirs
Australian Postal Corporation priced the domestic market’s first sustainability bond from a corporate credit for more than three years in its own return to capital market issuance, noting a six-month process to prepare the deal. The transaction was the first in a series of deals that made the second half of May more productive for corporate supply in the Australian dollar market.
Eyes turn from mitigation to adaptation as climate risk becomes certainty
The primary focus of sustainable finance has traditionally been climate change mitigation: providing capital to decarbonise the economy and thus, it is hoped, minimise the scale of global heating. But with higher temperatures baked in – and more warming guaranteed to come – swathes of Australia increasingly need financing solutions to respond to climate change that is already here.
Read more: Eyes turn from mitigation to adaptation as climate risk becomes certainty
OCBC highlights Australia's significance as Singaporean bank issuance hits record
Issuance by Singaporean banks in the Australian dollar market is already at a record level for a calendar year. The most recent such issuer, OCBC Bank, highlights the strategic importance of its Australian activities and says its links with local investors support its plan to be a regular presence in the market.
Read more: OCBC highlights Australia's significance as Singaporean bank issuance hits record
Time to take biodiversity seriously
Collapsing biodiversity and climate change are intrinsically linked. But climate change alone has been the traditional focus of sustainabile finance. Things are evolving, however, with growing recognition of biodiversity’s importance and the need for capital to take it into account.