News
On 11 October, Argosy Property (Argosy) revealed plans for a NZ$75-100 million (US$47.4-63.2 million) seven-year green bond for New Zealand retail and institutional investors. Full details for the transaction are expected to be announced when the deal is launched in the week commencing 14 October. ANZ is arranger for the transaction and joint lead manager alongside Forsyth Barr, Jarden Securities and Hobson Wealth Partners.
On 10 October, Network Finance Company, the financing entity of Endeavour Energy Group (Endeavour Energy) (Baa1), mandated ANZ, Commonwealth Bank of Australia and HSBC to arrange a series of investors meetings across Australia and Asia beginning 16 October regarding a potential Australian dollar denominated senior-secured transaction.
On 10 October, Credit Union Australia (CUA) (BBB/Baa1) launched a new five-year, indicative A$100 million (US$67.2 million) floating-rate note (FRN) transaction. Indicative price guidance for the forthcoming deal, which is expected to price on the day of launch, is 115 basis points area over three-month bank bills. National Australia Bank is leading.
The Bank for International Settlements (BIS)’s newly-established green-bond fund aims to help central banks incorporate environmental sustainability objectives in the management of their reserves. Antipodean central banks are increasingly sounding alarm on the risks posed by climate change, but so far only the Reserve Bank of New Zealand (RBNZ) has invested in the fund.
Dexus Finance (Dexus) (A-/A3) launched a new 10-year, Australian dollar denominated deal on 9 October. The transaction is being marketed at 165-170 basis points area over semi-quarterly swap. Pricing is expected on the day after launch, according to joint lead managers SMBC Nikko and Westpac Institutional Bank.
Columbus Capital mandated National Australia Bank, Natixis, SMBC Nikko, Standard Chartered and Westpac Institutional Bank to engage investors regarding a potential deal from its Triton residential mortgage-backed securities (RMBS) programme on 9 October.
On 9 October, Teachers Mutual Bank (Teachers Mutual) (BBB/Baa1) mandated National Australia Bank and Westpac Institutional Bank to organise an investor conference call on 11 October regarding a potential three-year Australian dollar denominated deal.