Mercury
New Zealand corporates return to green-bond market
As well as a clutch of mainstream corporate bond deals, the New Zealand market welcomed the return of corporate green-bond issuance in September. Mercury reopened the market with the first deal in nearly a year, followed in a matter of weeks by a third green-bond transaction from Argosy Property.
Mercury NZ prints NZ$150 million five-year green bond
Mercury NZ launches NZ$100 million green bond retail offer
Mercury NZ lining up green bond
Turning intent into action
In November 2022, KangaNews and Westpac hosted the New Zealand Sustainable Finance Summit as an in-person event in Auckland, for the first time since 2020. Speakers discussed the pressing need to turn good intentions and high-level thought into action on climate transition.
New Zealand retail not chasing green – but issuers still keen
The New Zealand corporate market provides as clear a sign as any that investor demand is often not the primary driver of borrower decisions to pursue sustainability-labelled debt issuance. While local retail investors – the most active corporate bond buyers in 2022 – may not be demanding labelled product, however, there are still plenty of signs of growing market momentum.
