News

The Green, Social, Sustainability and Sustainability-Linked Bond Principles announced revisions on 22 June after its annual general meeting. The two top deliveries for 2023 are an update to the Climate Transition Finance Handbook and modifications to the Sustainability-Linked Bond Principles to integrate sovereign issuers.

The week ending 23 June was busy in Australasian capital markets. In New Zealand, Asian Development Bank added to Kauri supply with a NZ$675 million (US$415.6 million) gender bond while Resimac printed the market’s first public residential mortgage-backed securities transaction for the year. Meanwhile, in the Australian dollar market, deals were executed across the corporate, high-grade, bank and structured-finance sectors.

Bank of New Zealand returned to the euro covered bond market for the first time in a year on 20 June, printing a €750 million (US$824.4 million) 5.5-year covered bond. Deal sources laud the transaction’s outcome, despite competing supply and a busy issuance window, largely helped by the measured execution process undertaken by issuer and leads.

HSBC Australia achieved robust demand and record pricing for its latest residential mortgage-backed securities deal. The issuer says new features in the structure of the deal contributed to its success.