Asian bid prominent as global demand drives AOFM’s jumbo print
Offshore investors drove the execution of the Australian Office of Financial Management’s latest syndication, including Asian accounts taking one-third of the book. Market participants say the Reserve Bank of Australia easing back on its hiking path is helping entice international accounts back to the Australian dollar primary market.
Kāinga Ora funding to be folded into sovereign programme
The days of Kāinga Ora – Homes and Communities as a standalone bond issuer are over as the New Zealand government announced on 11 November that the public housing agency’s future debt requirements will be funded directly by the sovereign, via New Zealand Debt Management.
ISSB disclosures could be a game changer for sustainable finance
As the urgency of action to achieve rapid decarbonisation grows, Australian market participants say work being done by the International Sustainability and Standard Board to establish a global baseline for disclosures is crucial to achieve the efficient and effective allocation of capital.
RBA dovishness helps smooth execution in IFC’s first green Kangaroo
International Finance Corporation says the Reserve Bank of Australia’s 25 basis point interest rate hike on 1 November opened an Australian dollar issuance window. The A$900 million transaction is the issuer’s largest Kangaroo deal for more than a decade and its first green bond in the Australian dollar market.
Securitisation support not on AOFM’s radar
The Australian Office of Financial Management says nonbank issuers and their lenders have once more raised the idea of government support for securitisation funding. But the agency does not have a mandate to restart the structured finance support fund and says it is currently confident in the asset class’s liquidity.