News
Issuance remained steady but with relatively limited volume as calendars turned over to the last month of the year. The largest transaction in Australia was ING Bank Australia’s covered-bond new line and tap, while International Finance Corporation returned to the Kauri market for a new social bond.
The forced sale of a substantial volume of Australian securitisation assets as a sector of UK investors scrambled to raise liquidity after the country’s catastrophic mini-budget could increase demand in the longer term. European market participants speaking at the Australian Securitisation Forum’s 2022 conference say the sell-off demonstrated liquidity many global investors did not believe the Australian asset class possessed and new buyers are emerging as a result.