News
Celsus – the commercial operator of the Royal Adelaide Hospital under a public-private partnership – used the first full refinancing of its syndicated debt facility to price what it believes is the world’s largest use-of-proceeds sustainability loan. The loan incorporates green and social aspects and the issuer says the labelled format helped it attract a book of more than double the required volume of A$2.2 billion.
Inflation signs are emerging faster and more frequently in other global jurisdictions, but there is enough inflation smoke in Australia for market users to be contemplating the fire. When it comes to inflation-linked bond issuance, local experts say the market story is not as simple as more interest equating directly to demand for, or supply of, physical product.
Lack of senior-unsecured supply from the major banks continues to represent a major hole in the Australian debt market, according to KangaNews issuance data from the first half of 2021. Meanwhile, sovereign and semi-government issuance has receded from the heights of last year.