Deutsche Bank
Australian dollar securitisation issuance rebounds
Australia’s securitisation market has maintained deal volume at a level in line with outcomes from recent years despite massive upheaval to the supply and demand picture in 2020. In particular, bank issuers have been all-but absent this year. A particularly active September and October for new issuance kept annual volume robust.
Another annual issuance record falls as Australian dollar securitisation soars
The Australian dollar securitisation market passed its all-time annual issuance record with a full quarter to spare and the pipeline still pumping out new deals. The sector’s leading intermediaries highlight offshore demand and exceptional growth in the nonmortgage securitisation space as primary growth drivers, while hopes are high that the positive issuance environment can roll into 2025.
Australian banks continue to target green issuance at Europe
National Australia Bank chose to issue a green bond in its return to senior issuance in the euro market. The issuer believes it was rewarded with a 2-3 basis point greenium but acknowledges that it benefited from the relative rarity of Australian major-bank senior-unsecured euro issuance as well as the scarcity of labelled issuance from the majors in any market.
KangaNews Fixed Income Trading and Research Poll 2024: tectonic shift
The 2024 iteration of the KangaNews Fixed Income Trading and Research Poll marks a significant change in the landscape of market support. A new bank has risen to the top of the research landscape, while the results overall show much more volatility in outcome than has typically been the case.
GSS issuance in time and numbers
KangaNews has been tracking the progress of Australian and New Zealand sustainability labelled debt instruments since the market began, including coverage of groundbreaking transactions and keeping extensive issuance data in the KangaNews deal database. A timeline of key developments and data points illustrates market progress over the years.
AOFM’s green debut achieves greenium but book size fails to excite
The first Australian sovereign green bond achieved a quantifiable greenium for the Australian Office of Financial Management but speculation outside the deal group that it might deliver a blowout book did not come to pass. Support built primarily in the Australian time zone, though deal sources insist an overnight price revision masks solid demand out of Europe.
