2019 NZ Sustainable Bond League Table - All Issuers - Including Self-led Deals

2019 NZ Sustainable Bond League Table - All issuers
Including Self-Led Deals
1 Jan - 31 Dec 2019

BookrunnerVolume
(NZ$m)
No.
deals
Market share (%)
ANZ 1,267 10 45.2
BNZ 942 7 33.6
Westpac 300 2 10.7
Commonwealth Bank of Australia 133 1 4.8
Forsyth Barr 50 2 1.8
Deutsche Craigs 33 1 1.2
First NZ Capital 25 1 0.9
Hobson Wealth Partners 25 1 0.9
Jarden Securities 25 1 0.9
TOTAL 2,800   100

Source: KangaNews 31 December 2019

Note: The last deal completed in the NZ domestic market priced on 5 November 2019.

Sustainable bond criteria: Must be aligned with recognised external global principles/standards. At this stage, KangaNews accepts the following:

(a) Green bonds: ICMA Green Bond Principles or CBI Climate Bonds Standard
(b) Social bonds: ICMA Social Bond Principles
(c) Sustainability bonds: ICMA Sustainability Bond Guidelines
(d) Sustainability-linked bonds: ICMA Sustainability-linked Bond Principles
(e) Transition bonds: ICMA Climate Transition Finance Handbook

To determine whether a bond is "aligned", all issuers outside the SSA sector will need to show an external review that verfies alignment with the Principles and must also have a framework (ie the core components plus key recommendations of the Principles). For SSA issuers, a framework is preferable but if none exists the issuer must show that it has internal processes in place to follow alignment and also that it offers investors detailed impact reporting.

Additional criteria: Must be public bond; no minimum size; one-year minimum maturity or call date; dual-tranche issues counted as one deal if both tranches have the same maturity date; settlement date used for date calculations; issued in AUD; no requirements regarding domicile of issuer; pricing must be disclosed; deal must be syndicated; bookrunners given equal allocation (unless advised otherwise); excludes bonds that have been retrospectively labelled as susstainable bonds; excludes asset-backed securities.