News
With investors increasingly requiring data and resources to inform their environmental, social and governance decisions, New South Wales is again leading the nation with its new sustainable finance website – according to Daniel Chandler, Sydney-based head of funding and sustainability at New South Wales Treasury Corporation.
A wave of volatility originating centred on recalibration of expectations about US economic trajectory, a Sydney bank holiday and focus on the Reserve Bank of Australia’s 6 August cash rate decision put the new-issuance market largely on hold, though a brace of securitisation transactions proceeded to pricing. Eyes are turning to the potential for primary issuance as banks and corporates emerge from pre-reporting blackout.
Powerco says its first green loan will be one of many. In fact, the borrower plans to follow the NZ$300 million seven-year revolving credit facility, which it closed in late July, with two smaller green loans in mid-August and another planned for later this year. The electricity distributor has a growing capex task and expects more green labelled debt to come – including wholesale bonds.