RBA dove faces market hawks
The much-awaited first Australian rates decision of 2022 did little to resolve the biggest talking point in the local market over the preceding year: the disparity between the Reserve Bank of Australia’s relatively dovish outlook and market expectations. Analysts continue to expect inflation and wages growth will force the reserve bank’s hand at some stage this year.
ESG derivatives get first use case in New Zealand
Metlifecare New Zealand’s execution of the country’s first environmental, social and governance interest rate swap will further the development and encourage wider uptake of sustainable finance, according to deal sources. The transaction helps lower the cost of the interest rate hedge on Metlifecare’s recently completed sustainability-linked loan.
Australian primary demand holds up as UOB Sydney prints its largest-ever deal
Growing market uncertainty driven by geopolitical tension has not yet been sufficient to hinder Australian dollar deals, highlighted by United Overseas Bank Sydney Branch’s record volume issuance on 17 February. Deal sources say the transaction achieved a record Australian dollar book for the issuer and highly competitive pricing.
NAB takes a different path to land jumbo print
National Australia Bank pursued an intraday execution strategy to avoid market volatility for its first Australian dollar senior deal of 2022. The issuer says support from across the investor base, including notable offshore interest, drove a record domestic print.
IDB Invest adds green bond to Kangaroo product suite
IDB Invest says it selected the green-bond format for its latest Australian dollar bond to underline its commitment to climate change mitigation. It is the issuer’s first-ever green bond issued in any public market.