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Chorus conducted an unusual liability management tender process alongside its return to euro issuance. Deal sources say the buyback and simultaneous issuance was a win for investors, allowing them to offload short-dated debt and extend duration without changing exposure limits.
North Queensland Airports used a routine debt refinancing to further its sustainability ambitions by aligning with its environmental strategies through a sustainability-linked loan. The facility is the first in Australia to target biodiversity and natural capital, and deal sources say it demonstrates the potential of sustainable finance beyond emissions reduction.
The Australian Prudential Regulation Authority’s interim target for Australian major banks’ total loss-absorbing capacity is less than 18 months away, and while recent tier-two deal flow suggests liquidity is available pricing has registered a stark widening. Dealers and intermediaries say spreading the issuance net will likely be key to managing higher cost of additional capital.