Investors scramble for AOFM deal despite growing volatility
The Australian Office of Financial Management’s latest transaction attracted a healthy orderbook despite printing in an increasingly volatile market. The agency says it took a strategic approach to execution, waiting out the recent federal budget and printing between central bank announcements.
South32 sets stage for further US dollar deals
South32 issued its inaugural public bond in the US dollar 144A market amid choppy conditions and in a tight execution window. The issuer says its debut lays the groundwork for future US dollar transactions.
RBNZ proposes new capital instrument to help mutuals compete
As the Reserve Bank of New Zealand demands local banks increase their resilience through enhanced capital requirements, mutual banks face a familiar challenge: how to access additional capital without putting their mutual status under threat. The central bank is consulting on two potential capital instrument options for the mutual bank sector – but may not introduce either.
No dodging climate reporting in Australia
Australian companies will likely not be able to avoid global climate reporting standards as offshore organisations ramp up disclosure requirements – whether or not there is a mandatory scheme domestically. Market participants say the international mood is changing and Australian companies and investors will have to shift with it.
Kexim targets international investors with extended Kangaroo execution
Export-Import Bank of Korea returned to the Australian dollar market for the first time since 2020 to print a dual-tranche deal with a multiday execution process that drew support from Asian commercial banks and investors further afield. The transaction’s dual-tranche structure also attracted legacy Kexim investors, according to deal sources.