Plenti’s part-green ABS demonstrates Australian securitisation’s resilience
Plenti Finance rode volatile conditions to print the Australian dollar market’s securitisation of 2022 not backed by mortgage or auto-loan collateral. The issuer acknowledges that pricing has widened on the back of increased market volatility but says the difference was not material.
Morrison & Co adds green criteria to PPP school refinancing
Morrison & Co has refinanced debt linked to New Zealand schools-focused public private partnership with a use-of-proceeds sustainability loan. Deal sources say the facility is New Zealand’s first use-of-proceeds loan to be recognised and accredited for its environmental and social credentials.
Standards in focus as Australian sustainable debt gears up
Australian sustainable finance bankers are relatively confident about further growth in bond market flow from their sector in 2022. The market continues to evolve, making product innovation and, in particular, ever-higher expectations on standards and reporting a notable focus.
Reliance Rail states its ESG ambition by combining green loan with SLL
Reliance Rail says the addition of sustainability-linked features to its green loan will help it achieve environmental goals beyond its existing asset pool, such as energy consumption targets and emissions reduction. Any margin savings will be directed to sustainability improvements rather than reducing funding costs, which the borrowers says is a distinguishing feature of its facility.
LSAP sellback manageable despite lack of detail
New Zealand market participants are confident the Reserve Bank of New Zealand’s planned sell-down of some assets acquired in its QE programme should be manageable without major digestion issues. However, key details of the scheme – scheduled to start in the 2022/23 financial year – are yet to be finalised or disclosed.