NAB gets covered in preparation for post-TFF funding
National Australia Bank (NAB) became the latest major Australian bank to access senior term funding in global markets with the 28 June print of a new euro-denominated covered bond. NAB did not price the deal to satisfy an immediate funding need but rather as an early-stage preparation for maturity towers on the horizon.
IDB Invest eyes strategic role for Kangaroo market
IDB Invest is the latest in a raft of supranational, sovereign and agency issuers to leverage a sustainable-finance programme into a successful Australian dollar transaction. The issuer is intent on building the market into its long-term funding plans, with a focus on responding to local-investor feedback.
USPP door still open despite Australasian issuance drought
The US private placement market is a well-trodden stomping ground for many Australian- and New Zealand-based borrowers, but issuance from the region has been lacking since the onset of the COVID-19 pandemic. However, market users say US pricing is swinging round for offshore corporates and expect more issuance in H2 2021, pointing to a jumbo new deal from an Australian issuer as a sign of the market’s ongoing value.
Ramsay adds healthcare to Australia’s growing list of SLL sectors
Ramsay Health Care has become the latest Australian company to undertake a sustainability-linked loan. The borrower says the facility is part of a refreshed debt strategy and positions it well for the market’s increased scrutiny on environmental, social and governance credentials.
Green bond lets CPPIB access Australian investors without Kangaroo programme
Leads on CPPIB Capital’s debut Australian dollar benchmark say the use of green-bond format attracted Australian domestic investors to the transaction despite the issuer not having a Kangaroo programme in place. CPPIB has spent some time developing engagement with the Australian market and is not averse to establishing a domestic programme but the local demand for issuance not in Kangaroo format is notable nonetheless.