Interim infrastructure emissions targets just the start for IFM
IFM Investors has set 2030 targets for emissions-reduction in its largest investment sector – infrastructure – as part of the asset manager’s drive to achieve net zero across its funds by 2050. IFM expects to disclose similar interim plans for the equity, private-equity and debt asset classes in the coming months.
New York Life seeks diversification in FA-backed Kangaroo debut
New York Life Global Funding printed a debut funding-agreement-backed Kangaroo deal on 31 August, with investor diversification top of its agenda in coming to the Australian market. The borrower tells KangaNews it is eager to become a regular issuer in Australia.
Summerset delivers New Zealand market’s largest SLL
Summerset Group Holdings has completed New Zealand’s largest sustainability-linked loan to date, finalising a facility of around NZ$700 million equivalent on 23 August. The borrower lauds the organisational impact of this financing format, saying it will focus sustainability efforts within the business.
New Zealand securitisation starts to deliver on potential
Fulfilling the promise hinted at in 2019 but put on hold while the local lending market worked its way through the consequences of the pandemic, 2021 is now officially a record issuance year in the New Zealand securitisation market. Total year-to-date-issuance, of NZ$1.5 billion (US$1 billion), has ticked past the previous record and market participants are confident deal flow will continue despite the latest COVID-19 lockdown.
Healthy appetite for sustainability loans supports Royal Adelaide Hospital refinancing
Celsus – the commercial operator of the Royal Adelaide Hospital under a public-private partnership – used the first full refinancing of its syndicated debt facility to price what it believes is the world’s largest use-of-proceeds sustainability loan. The loan incorporates green and social aspects and the issuer says the labelled format helped it attract a book of more than double the required volume of A$2.2 billion.