News
Sustainability-aligned issuance was a focus in the week ending 8 April, with the pricing of green bonds from GMT Bond Issuer and NBN Co. Elsewhere Commonwealth Bank of Australia printed a A$1.1 billion (US$833.9 million) dual-tranche tier-two transaction while securitisation continued with a A$500 million issue from Thinktank Group.
Australian companies will likely not be able to avoid global climate reporting standards as offshore organisations ramp up disclosure requirements – whether or not there is a mandatory scheme domestically. Market participants say the international mood is changing and Australian companies and investors will have to shift with it.
As the Reserve Bank of New Zealand demands local banks increase their resilience through enhanced capital requirements, mutual banks face a familiar challenge: how to access additional capital without putting their mutual status under threat. The central bank is consulting on two potential capital instrument options for the mutual bank sector – but may not introduce either.
Export-Import Bank of Korea returned to the Australian dollar market for the first time since 2020 to print a dual-tranche deal with a multiday execution process that drew support from Asian commercial banks and investors further afield. The transaction’s dual-tranche structure also attracted legacy Kexim investors, according to deal sources.
