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By their nature, semi-government issuers should have access to plenty of options suitable for use-of-proceeds green, social and sustainability (GSS) bond issuance. Identifying, labelling and reporting on them is the challenge.

The KangaNews DCM Summit 2022 took place on 23 May. Recordings are available for registered attendees.

Issuers and intermediaries universally point to environmental, social and governance (ESG) alignment as a tailwind for Kangaroo transactions. The pricing benefit of bringing labelled deals is small – incremental demand and investor engagement are the primary benefits.

The bank market may be leading Australian credit out of the mid-2022 doldrums, with a particular focus on the tier-two asset class. Tier-two is a less liquid and more volatile product but it can also be an accurate guide to risk appetite for credit as a whole.

The bank market may be leading Australian credit out of the mid-2022 doldrums, with a particular focus on the tier-two asset class. Tier-two is a less liquid and more volatile product but it can also be an accurate guide to risk appetite for credit as a whole.

While it is still hard to claim with any confidence that the bottom has been reached, at least some degree of stability seems to have returned to the Australian credit market. It will be interesting to see whether the travails of 2022 have a long-term impact on confidence in the market’s ability to provide liquidity. There are at least some reasons to hope for a relatively quick rebound, though perhaps less so in the true corporate space.

There can rarely have been a more obvious inflection point in global markets, as the post-financial-crisis liquidity that has poured into virtually all asset classes has finally hit its high-water mark and started to retreat. What this means for the shape of markets in the longer term is hard to predict, given the early stage at which the reversal is at. But it is still well worth contemplating the possible changes ahead.

The leading social event for the fixed-income market in Australasia, the KangaNews Awards Gala Dinner, took place in Sydney on 24 May. Guests celebrated the achievements of the winners of the KangaNews Awards in 2021.

For the first time in three years, the dinner brought together participants in the Australia and New Zealand debt markets and guests from around the world. Thank you to all the guests for contributing to another memorable evening, and for supporting the Black Dog Institute with donations totalling more than A$30,000 - including a A$12,000 donation from KangaNews.

New Zealand’s business and financial community is aligning with the government’s new Emissions Reduction Plan (ERP). The plan, released in May, sets out a strategy to meet the country’s emissions budget, guiding transition for key sectors such as energy and transport.

The Australian securitisation market could be on the verge of a sustainability surge, market participants believe. Green deals are likely to be the first sign of this uptick in activity but issuers are also exploring social securitisations with hopes of issuance as soon as this year.

Issuers and intermediaries universally point to environmental, social and governance (ESG) alignment as a tailwind for Kangaroo transactions. The pricing benefit of bringing labelled deals is small – incremental demand and investor engagement are the primary benefits.