News
Financial issuers dominated Australasian primary issuance in the week ending 25 August. International names and securitisation kept the Australian pipeline flowing while, in New Zealand, Bank of New Zealand added to 2023’s bank issuance tally with a NZ$1 billion senior transaction. There was also Australian dollar nonbank securitisation supply from Brighte Capital, Firstmac and Resimac.
NBN Co says it attracted a diverse investor base – including a book of more than 60 unique accounts – to its latest deal, which was its third-ever green bond and second in the domestic market. The transaction also makes NBN the largest corporate borrower in Australia by outstanding volume.
Consistent opportunities and growing capacity for offshore financial institution issuers are likely to bring NatWest Markets back to the Australian dollar market more frequently in future, the issuer says in the wake of its second Kangaroo deal. Lead managers also predict further near-term Kangaroo deal flow as issuers rush to take advantage of conducive conditions and unsated demand.
