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Deal flow continued in Australia and New Zealand as the calendar flipped over into the last month of the year, but there are also some hints of a potential wind-down into the holiday period. Republic of Korea’s landmark deal – the first from a foreign sovereign in Australia for nearly two decades – came under a cloud thanks to local political disruption post-pricing, while weak secondary performance of recent new issuance likely contributed to the absence of further tier-two flow in Australia.
Australia has made up ground on its previous lags in developing the transmission infrastructure and policy settings to harness its natural advantages in energy transition – especially in the area of policy. At the Investor Group on Climate Change summit, Guy Debelle, investment committee adviser at Australian Retirement Trust, emphasised the importance of moving forward as quickly as possible now the infrastructure has improved.