News
In pursuit of maintaining its domestic bond curve, Aurizon Network returned to the Australian dollar market for the first time in four years. The issuer reveals that the deal enjoyed abundant demand – which it ascribes to emerging understanding of nuance in sustainability as well as the ongoing positive backdrop for credit supply.
In February, KangaNews and Mizuho Securities hosted their Japanese investor roundtable discussion in Tokyo for the first time since the pandemic. Much has changed and there are prospects of further fundamental shifts on the horizon – including policy normalisation – but these investors remain a core component of the Australian dollar fixed-income market.
A clutch of semi-government issuers accessed the Australian dollar market for syndicated deals in quick succession in the early weeks of 2024. The deals arrived notably earlier for this sector than previous issuance patterns and found plentiful demand, including from offshore accounts.
KangaNews data for calendar year 2023 confirm that a raft of sectors in the Australian dollar market experienced record new-issuance volume last year. The financial institution space in particular also delivered a notable uptick in issuance diversity, across unsecured and securitised deal formats. Meanwhile, issuance in New Zealand was consistent year-on-year.
The pace of early-year SSA Kangaroo issuance in 2024 outstripped all previous records. Whether or not the full year produces record supply once more – and intermediaries have their doubts that the tailwinds of 2023 will remain in place – there are reasons to believe the sector has reached a new level of baseline demand and thus deal flow.
The closing session of the 2023 Australian Securitisation Forum conference in November 2023 brought together four chief executives from Australasian nonbank lenders. The sector is facing up to competitive challenges following a period of unprecedented growth so it was the perfect moment for these leaders to share their insights on the value proposition and prospects for nonbanks.
Having guaranteed its first local transaction in 2008, Australia continues to be a key country of interest throughout changing times for Assured Guaranty* and for the credit wrap model. With huge infrastructure tasks on the agenda in Australia and New Zealand – especially when energy transition is added to the to-do list – and a growing need to access diverse pools of global capital, Assured Guaranty believes its products have a significant role to play in the coming years.
Long-anticipated mandatory climate reporting for corporate Australia took a step closer to reality in January as the Australian government published its draft legislation for the forthcoming regime. Industry experts speak to KangaNews about what it means for businesses – and who will be ready for the task.
In late January, the Kangaroo market welcomed its latest new borrower: PSP Capital, the funding arm of Canadian-based pension investment manager PSP Investments. KangaNews catches up with Renaud de Jaham, managing director and treasurer at PSP Investments in Montreal, to discuss the debut transaction and its aspirations for future Australian dollar issuance.