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US private placement investors admit they have not historically been market leaders when it comes to environmental, social and governance integration. A changing world is shifting the landscape, although it may not lead to a significant influx of green-bond issuance.
US private placement investors admit they have not historically been market leaders when it comes to environmental, social and governance integration. A changing world is shifting the landscape, although it may not lead to a significant influx of green-bond issuance.
Click the links below for KangaNews market analysis and issuer announcements relating to COVID-19:
US private placement investors admit they have not historically been market leaders when it comes to environmental, social and governance integration. A changing world is shifting the landscape, although it may not lead to a significant influx of green-bond issuance.
Australia and New Zealand historically offered a perfect combination of factors for US private placement (USPP) investors: solid credit quality and asset bases married to relatively high yield. Yield has fallen, but issuers remain confident of the support they will receive in USPP deals.
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 primary investor base for Australian dollar EMTN deals is still Asian accounts. The makeup of this investor base has shifted, though. It is now based more on funds looking for value and currency exposure rather than on those seeking trading returns.
Strategists say Australian bond outperformance may not be able to continue throughout 2020. But they also do not expect a dramatic spread reversal to emerge.
New Zealand Debt Management (NZDM)’s Kim Martin talks about the government issuer’s strategy for dealing with a higher funding requirement and the global inflation outlook, changing offshore investment drivers and the response to the government’s Wellbeing budget.
Export Finance Australia, the trading name of Export Finance and Insurance Corporation, has been more active in global markets over the last 12 months as it supports Australian export-trade growth. KangaNews speaks to Chris Collard, the agency’s Sydney-based director, treasury, about the outlook for Australian exports.
Kāinga Ora – Homes and Communities (Kāinga Ora) brings together multiple agencies. Sam Direen, Wellington-based treasurer, tells KangaNews about operational changes, sustainability debt and investor engagement.
National Housing Finance and Investment Corporation (NHFIC) priced its debut and follow-up bond transactions in 2019. The agency’s Sydney-based chief executive, Nathan Dal Bon, speaks to KangaNews about the development of its issuance strategy, longer-term goals for curve building and investor engagement, and the tangible outcomes its assets offer investors.