News
Australasian deal activity in the week ending 29 October was highlighted by sustainable finance, including GPT's green bond, Christchurch City's sustainability bond and the market's third sustainability-linked bond from APPF Commercial Finance.
Market talk is growing about a potential return to offshore issuance by Australian securitisation issuers – including some nonmortgage asset-backed securities – if supply continues to grow and spreads widen. Despite a record year and a strong October, some investors note recent and expected developments in the credit market could soften demand as issuers prep further deals to finish out the year.
Fixed-income traders and investors are increasingly using insights from trade data to inform decisions – from trade ideas to best-execution principles. Executives from Refinitiv and Yieldbroker explain why the data their firms’ tie-up provides could become even more important to the market in the next cyclical evolution.
GPT Funds Management’s first green bond engaged new investors, with its 10-year tenor and use-of-proceeds format attracting a A$350 million orderbook from 35 accounts. With A$6.4 billion of eligible green assets, the firm says it has scope for future issuance.
Australia’s big-four banks returned to funding markets with a vengeance in the second and third quarters of 2021. Their volume of domestic issuance is starting to build, and offshore activity and the banks’ own signalling suggest the majors will be back to their pre-pandemic issuance run rate in short order.