News
Mercury NZ’s return to the domestic market refinances debt used to acquire Trustpower in 2021. The power company says it has now met its funding requirements for 2022 and, with a small refinancing task ahead, may be less active in the medium term.
Strong demand for ANZ Banking Group paper following the bank’s more than two-year absence from the term funding market helped make its 5 May return to domestic benchmark issuance a success despite well-known market challenges. With all four major banks now having issued in 2022, ANZ says its transaction highlights that the domestic market remains liquid despite limited new issuance and constrained secondary flow.
Firstmac leaned on its long-term investor base to fill the book of its latest prime residential mortgage-backed securities transaction. The next step for the issuer will be somewhat less familiar, however: with all its benchmark assets now funded, the issuer is planning the second-ever transaction from its Eagle programme in the coming months.