BNZ plugs market lull with €750 million covered bond
BNZ identified a narrow window of market stability to revisit its euro covered-bond programme on 21 June, finding strong demand across Europe for the five-year mortgage-backed deal. The covered product was an obvious choice for the volume the issuer sought as ongoing market turbulence makes senior-unsecured pricing less attractive, deal sources say.
NAB pre-places seniors notes and adds green to smooth RMBS execution
Australian nonbank lenders have long discussed the potential alignment of the type of lending they do with social-bond funding. As the first local issuer to bring an all-social residential mortgage-backed securities deal, Pepper Money says the value of the platform is primarily about the opportunity this type of funding offers for future development of lending product.
Bidders eager for Rentenbank’s first seven-year Kauri since 2017
Rentenbank’s first seven-year Kauri in five years received strong demand and printed at double its indicative volume at launch. The borrower says it will target longer-dated maturities for the remainder of the year, in all markets.
TNFD ramps up but investor engagement lacking
Following a test launch in March, the Taskforce for Nature-related Disclosures is progressing toward a late-2023 implementation date for its framework. Sources say Australasian corporates look reasonably well-prepared – but they cannot say the same for institutional investors.
Higher emissions hurdle will unlock A$76 billion in funding: Bowen
Australian nonbank lenders have long discussed the potential alignment of the type of lending they do with social-bond funding. As the first local issuer to bring an all-social residential mortgage-backed securities deal, Pepper Money says the value of the platform is primarily about the opportunity this type of funding offers for future development of lending product.