Auckland Council seeking full SLL bank debt conversion following debut
Auckland Council wants to shift all its bank debt into sustainability-linked loan format, following its conversion of an existing standby facility and execution of a sustainability-linked interest rate swap. The council says the transactions represent the latest steps linking funding to its sustainability goals.
Asian investors anchor Australia’s largest university GSS bond
University of Tasmania executed 2022’s first Australian dollar corporate green bond with the support of Asian investors – particularly one Japanese life insurance company – anchoring the outcome in a challenging market. Demand for the use of proceeds format also facilitated a volume upsize, deal sources reveal.
Futureproofing, collaboration and alignment at the heart of XRB’s regime
New Zealand’s External Reporting Board has progressed to the second consultation document stage as it prepares local mandatory climate-risk reporting standards. In the challenging areas of strategy, and metrics and targets, the board says it has been guided by the principles of futureproofing, collaboration and international alignment.
Hyundai goes short to kick off Australian dollar corporate issuance in 2022
Hyundai Capital Services launched and priced a three-year Kangaroo bond on 11 March, moving quickly to execute Australia’s first corporate bond transaction of 2022 despite market volatility. The issuer suggests shorter tenor may have been key to successful execution.
Westpac’s domestic print resets pricing but uncovers robust underlying demand
Westpac Banking Corporation reopened the Australian dollar credit market on 10 March, offering a significant pricing concession to secondary marks. The execution reflected the reality of a volatile environment but it also received substantial support from local real money in particular.