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2022 NZ Sustainable Bond League Table - Domestic Issuers - Including Self-led Deals
2022 NZ Sustainable Bond League Table - Domestic issuers
Including Self-Led Deals
1 Jan - 17 Nov 2022
| Bookrunner | Volume (NZ$m) | No. deals | Market share (%) |
|---|---|---|---|
| BNZ | 1,374 | 6 | 24.1 |
| Westpac | 1,292 | 6 | 22.6 |
| ANZ | 1,073 | 5 | 18.8 |
| Deutsche Bank | 600 | 1 | 10.5 |
| UBS | 600 | 1 | 10.5 |
| Craigs Investment Partners | 301 | 5 | 5.3 |
| Forsyth Barr | 239 | 4 | 4.2 |
| Commonwealth Bank of Australia | 150 | 1 | 2.6 |
| Jarden Securities | 81 | 2 | 1.4 |
| TOTAL | 5,710 | 100 |
Source: KangaNews 17 Nov 2022
Note: The last deal completed in the NZ domestic market priced on 15 Nov 2022. The league table will be updated again when the next deal prices.
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 NZD; 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.