Kāinga Ora – Homes and Communities
Kāinga Ora – Homes and Communities (Kāinga Ora) held its inaugural virtual investor day on 19 August to showcase its role as a world-class public-housing landlord and leader in delivering urban-development projects. The goal was to explain the agency’s role to debt investors beyond the normal tenets of its funding programme.
At the start of June, KangaNews and Westpac brought together New Zealand’s biggest government-sector issuers in Wellington to discuss the path of their market from the depths of the crisis back to functionality, the new challenges of 2021 and the outlook for a raft of factors – including sustainable-finance evolution, inflation-linked issuance and the long-dated market.
Kāinga Ora – Homes and Communities has been building the curve for Housing New Zealand Limited bonds since its market return three years ago. The agency’s Wellington-based treasurer, Jason Bligh, assesses progress after a successful if turbulent 2020 and ahead of a forthcoming online investor day to be hosted on the KangaNews events hub.
On 21 May, following the release of the New Zealand budget, Kāinga Ora – Homes and Communities announced a NZ$2.3 billion (US$1.7 billion) funding requirement for the 2021/22 financial year. The borrower says this incorporates the government’s announcement earlier this year of an additional NZ$2 billion in funding over 10 years to scale up land acquisitions and boost housing supply.
In 2020, KangaNews launched its Women in Capital Markets Yearbook with a focus on amplifying female voices in the Australian market. The publication received widespread positive response, including requests from New Zealand to bring a similar project to the other side of the Tasman Sea. On 8 March this year – International Women’s Day – KangaNews hosted its first roundtable discussion exclusively featuring female leaders in the New Zealand debt market. The event was not just to discuss gender diversity but to provide a forum for their voices at a key moment of market development.
Housing affordability has been a critical issue in New Zealand for some time but a price explosion in 2020 has heightened the national focus. The government has announced a suite of policies to tackle the issue but efforts to press gang monetary and regulatory policy into service have run into resistance.
HIGH-GRADE ISSUERS YEARBOOK 2021
The ultimate guide to Australian and New Zealand government-sector borrowers.