CSL injects a note of optimism to corporate issuance
Investors leapt at the chance to buy into CSL’s 144A market debut, deal sources say. The record volume outcome and extended tenor were accompanied by a greater margin tightening across all tranches well above the market’s recent average, all supported by a willing and able investor base.
KangaNews launches new sustainable bond league tables to capture market evolution
KangaNews has launched its revamped sustainable bond league tables for the Australian and New Zealand markets, having updated the league table criteria to include sustainability-linked as well as labelled bonds, following a period of extensive research. The goal is to deliver a robust, best-practice methodology that can adapt to market evolution while demanding high standards from issuers and deal arrangers.
World Bank innovates with new model for conservation financing
World Bank’s recent US$150 million “rhino bond” is advancing biodiversity and natural capital, proving financial markets can fund conservation projects while simultaneously transferring project performance risk from donors to institutional investors, according to deal sources.
Green deposit takeup widens with MUFG-Sydney Airport facility
A key benefit of sustainable finance evolution for corporate borrowers is the growing range of products on which they can bring their sustainability strategies to bear. Green deposits are a relatively recent innovation and their use is growing – most recently through MUFG Bank’s first client sign-up in Australia, Sydney Airport.
Multiple KPIs needed for sustainability-linked gender push
Investors must embrace multiple KPIs within sustainability-linked instruments to embrace the inclusion of gender equality goals, according to speakers on a recent International Capital Market Association sustainability bonds panel. Gender bonds using use-of-proceeds structures struggle to attract programme scale, limiting their ability to drive change.