Real money rolls in AOFM’s curve-extending new deal
The Australian Office of Financial Management says its new long-dated syndication was well sought after by investors including higher than usual participation from real-money accounts. The government debt management agency stuck to its plan to issue the new line before year end with options for clear execution windows starting to diminish.
ASFI readies updated track of Australia’s sustainable finance progress
The Australian Sustainable Finance Institute will disclose the latest intelligence from its sustainable finance progress tracker at its annual conference in Sydney on 24 October. Ahead of the update, the institute’s chief executive, Kristy Graham, shares a sneak preview with KangaNews covering some of the primary focus areas and priorities.
Read more: ASFI readies updated track of Australia’s sustainable finance progress
RBA confident hikes are doing their job though transmission channels vary
The Reserve Bank of Australia appears to be comfortable that rate hikes are transmitting more or less normally through the economy despite some abnormalities – such as the relatively higher proportion of fixed-rate mortgages going into the hiking cycle. While some lags remain in place, the suggestion is that the reserve bank is not expecting these to do much additional tightening work for it.
Attractive price calls NBN back to US dollars
After a period in which the euro market was the option of choice for Australian corporates needing global benchmark deal volume, NBN Co’s return to the US dollar 144A market illustrates changing economics. The deal scored the borrower its largest price revision from the marketing range and lowest new issuance concession of its three US dollar deals to date, and deal sources anticipate follow-on supply despite market headwinds.
Stormy conditions prepare the ground for new growth
The demands of specialist lending funded by securitisation require Australasian nonbanks to ensure their books have maximum resilience to economic conditions. Arrears performance has so far held up very well in the current cycle and there are – albeit very early – signs that conditions may be improving for nonbanks.
Read more: Stormy conditions prepare the ground for new growth