News
The Australian Office of Financial Management and Australian federal Treasury have been discussing what would be involved in sovereign labelled bond issuance – for instance green bonds – should the government decide to pursue this. Market sources tell KangaNews the move is part of a growing trend in Canberra toward greater receptibility to sustainable finance, as the government attempts to catch up with international peers.
National Australian Bank says clear investor demand drove the large proportion of fixed-to-floating rate notes in its return to domestic tier-two issuance. The deal required a notably wider margin than the most recent comparable transactions in Australia, but the issuer says it was clearly the best option available for a new tier-two print.
New Zealand is a step closer to implementing mandatory climate risk reporting standards, having kicked off final consultation for a full exposure draft on 28 July. The New Zealand External Reporting Board says its iterative approach to developing a local standard remains key to parlaying voluntary reporting frameworks into an enforceable domestic regime.