Online articles

  • Assured Guaranty eyes Australasian opportunities

    Having guaranteed its first local transaction in 2008, Australia continues to be a key country of interest throughout changing times for Assured Guaranty* and for the credit wrap model. With huge infrastructure tasks on the agenda in Australia and New Zealand – especially when energy transition is added to the to-do list – and a growing need to access diverse pools of global capital, Assured Guaranty believes its...
  • Australia goes big

    As Australian dollar new issuance at the start of 2024 first impressed then amazed even grizzled market veterans, the question on everyone’s lips is whether this apparent step-change in market capacity represents system growth or just a fortunate combination of technical tailwinds. If it is the former, the local market may be taking its first steps as a profoundly different entity.
  • Australian dollar issuance records smashed in 2023

    KangaNews data for calendar year 2023 confirm that a raft of sectors in the Australian dollar market experienced record new-issuance volume last year. The financial institution space in particular also delivered a notable uptick in issuance diversity, across unsecured and securitised deal formats. Meanwhile, issuance in New Zealand was consistent year-on-year.
  • Conditions change but Japanese investors stay locked in to Australian fixed income

    In February, KangaNews and Mizuho Securities hosted their Japanese investor roundtable discussion in Tokyo for the first time since the pandemic. Much has changed and there are prospects of further fundamental shifts on the horizon  – including policy normalisation – but these investors remain a core component of the Australian dollar fixed-income market.
  • Demand for Telstra shows corporate market no longer a blue-chip-only story, leads say

    The size and breadth of demand for Telstra’s latest deal stands out – especially the scale of bids for 10-year corporate bonds. But deal sources say buy-side interest in corporate transactions is wider than it was a year ago and should support supply from a range of issuers.
  • Early start for semi-government syndication

    A clutch of semi-government issuers accessed the Australian dollar market for syndicated deals in quick succession in the early weeks of 2024. The deals arrived notably earlier for this sector than previous issuance patterns and found plentiful demand, including from offshore accounts.
  • ICMA calls for early adoption of transition plans

    On 14 February the International Capital Market Association released a paper titled Transition Finance in the Debt Capital Market. Two of the authors speak to KangaNews about the key callouts from this report, stressing that early voluntary moves will be the most effective way for fossil fuel companies and those in other hard-to-abate sectors to secure the scale of financing needed for their decarbonisation...
  • LGFA left out in the cold after RBA repo eligibility u-turn

    New Zealand Local Government Funding Agency is confident about its ongoing Australian dollar issuance prospects despite expressing disappointment at the Reserve Bank of Australia process that saw the issuer initially granted repo eligibility before having that status withdrawn. The issuer believes the outcome highlights anomalies in the expanded list of assets eligible for repo in Australia but will not take its...
  • Mandatory climate reporting puts business in the hot seat

    Long-anticipated mandatory climate reporting for corporate Australia took a step closer to reality in January as the Australian government published its draft legislation for the forthcoming regime. Industry experts speak to KangaNews about what it means for businesses – and who will be ready for the task.
  • Nonbank leaders survey a changing world

    The closing session of the 2023 Australian Securitisation Forum conference in November 2023 brought together four chief executives from Australasian nonbank lenders. The sector is facing up to competitive challenges following a period of unprecedented growth so it was the perfect moment for these leaders to share their insights on the value proposition and prospects for nonbanks.
  • Solid foundations more important than records in SSA Kangaroo sector

    The pace of early-year SSA Kangaroo issuance in 2024 outstripped all previous records. Whether or not the full year produces record supply once more – and intermediaries have their doubts that the tailwinds of 2023 will remain in place – there are reasons to believe the sector has reached a new level of baseline demand and thus deal flow.
  • Stay tuned for more Kangaroos, PSP promises

    In late January, the Kangaroo market welcomed its latest new borrower: PSP Capital, the funding arm of Canadian-based pension investment manager PSP Investments. KangaNews catches up with Renaud de Jaham, managing director and treasurer at PSP Investments in Montreal, to discuss the debut transaction and its aspirations for future Australian dollar issuance.
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