News
On 21 September, Port of Tauranga (A- by S&P) launched a NZ$100 million (US$67.6 million) five-year transaction. The forthcoming deal is being marketed at 90-100 basis points area over mid-swap and is expected to price on 23 September. BNZ is leading.
The bank treasury function typically remains a male-dominated realm globally – especially at executive level. TD Bank (TD)’s Toronto-based executive vice president, treasury, corporate development and strategic sourcing, Barbara Hooper, is an exception, providing the bank with experience and perspective on treasury, leadership and diversity that few other global institutions can count on.
Elevated deal activity in New Zealand continued in the third week of September, with Auckland Council's 30-year green-bond transaction a highlight. Meanwhile, TransGrid landed its debut domestic deal and Kiwibank also printed an inaugural Kangaroo covered bond.
Further to its announcement earlier in the day, the Australian Office of Financial Management (AOFM) (AAA/Aaa/AAA) revealed ANZ, BofA Securities, Deutsche Bank and J.P. Morgan as joint lead mangers for the syndication of a new September 2026 Treasury bond. The deal is expected to launch in the week beginning 21 September.
On 18 September, the Australian Office of Financial Management (AOFM) revealed plans for a new September 2026 Treasury bond via syndication to be issued in the week beginning 21 September. The joint lead managers will be announced later in the day.
The KangaNews Women in Capital Markets Survey (WICM Survey) is a centrepiece of the WICM Yearbook. Conducted in August, more than 150 women from across the Australian capital-markets landscape shared their views in response to a range of questions that highlight workplace gender diversity and the steps the industry can take to improve further.
An expanded pool of eligible green-bond projects, including many long-dated assets, and New Zealand’s interest-rate environment provided the catalyst for Auckland Council to print a 30-year green-bond deal. The issuer says the tenor is an important development and the success of its transaction should encourage others to test the water at extended duration.
Kiwibank says its credit growth is outstripping the incremental funding provided by central-bank facilities and deposit inflows, leading the borrower printing its inaugural Kangaroo covered bond on 16 September. Tim Main, Kiwibank’s Auckland-based treasurer, spoke to KangaNews about the deal.
World Bank’s latest New Zealand dollar transaction is the largest-ever Kauri deal with tenor longer than five years. With rates continuing to head lower in New Zealand, investor appetite for longer-tenor deals is apparent and matched World Bank’s desire to fund further out on the curve.
On 18 September, Athene Global Funding mandated BofA Securities, Deutsche Bank and RBC Capital Markets for a potential five-year, Australian dollar denominated, FA-backed, benchmark deal. A group investor call is scheduled for 21 September. The deal is expected to be rated A by S&P Global Ratings and A by Fitch Ratings.
On 18 September, Australian Gas Infrastructure Group (AGIG), on behalf of DBNGP Finance (DBNGP) (BBB/Baa2) and Energy Partnership Gas (EPG) (BBB+ by S&P), announced a consent solicitation process on its outstanding Australian dollar denominated notes.