University of Tasmania executed 2022’s first Australian dollar corporate green bond with the support of Asian investors – particularly one Japanese life insurance company – anchoring the outcome in a challenging market. Demand for the use of proceeds format also facilitated a volume upsize, deal sources reveal.
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AusNet’s Asian-driven 10-year result a shining light in a challenging market
Deal sources say AusNet Services’ success in placing a substantial 10-year Australian dollar transaction – with a significant oversubscription and minimal new-issue concession – reflects borrower specifics and momentum in the execution process rather than a widespread positive corporate issuance tone. A large bid from Asia drove the outcome but investors generally remain highly selective.