Semi-government market gets underway unseasonably early
Semi-government issuers accessed the domestic market in quick succession in the early weeks of 2024. The deals arrived notably earlier for this sector than previous issuance patterns infer and found plentiful demand, including from offshore accounts.
NIB opens Kauri market for 2024 but more supply depends on multitude of factors
Nordic Investment Bank opened the New Zealand dollar market for primary supply on 16 January with a five-year Kauri. Deal sources say it is a good first transaction for the year and are optimistic more paper will follow, but are also mindful that more Kauri supranational, sovereign and agency supply could be difficult for issuers to justify relative to other global markets.
Everything, all together, all the time
New Zealand is well ahead of the game when it comes to net zero transition in power generation, but many other sectors of its economy still have a long way to go to establish long-term sustainable foundations. Recent climate events, meanwhile, make it very clear that the time for delay has long passed. Speakers at the KangaNews-Westpac New Zealand Sustainable Finance Summit, which took place in Auckland in November, discussed the critical issues in the context of making sure the next step is action rather than fatigue.
Resilience to the fore in corporate Australia – in funding as in business
The KangaNews-Westpac Institutional Bank Corporate Debt Summit 2023 took place in Sydney in mid-October. A record number of delegates gathered to discuss the present and future of the Australian corporate environment, from the economic outlook and business conditions to the forthcoming impact of generative AI. In the mix was a steady but unspectacular corporate bond issuance environment that belies fundamental growth in domestic credit.
Read more: Resilience to the fore in corporate Australia – in funding as in business
Australian just transition requires financial innovation and social inclusion
Australia has plenty of work to do if it is to align capital and collaboration for a just transition to a sustainable, low-carbon future. Speakers at the Australian Sustainable Finance Institute’s conference in Sydney in October called attention to the financial sector’s role, responsibilities and opportunities to support First Nations Australians and amplify their voices in the wake of the failure of the Indigenous Voice to Parliament referendum.