News
The Australian Office of Financial Management issued its first syndication off a larger borrowing programme for 2024/25 last week, taking A$11.5 billion out of the market and attracting demand nearly five times transaction size. Deal sources tell KangaNews the results should provide confidence about capacity for high-grade issuers in Australian dollars.
The high-grade sector provided the bulk of Australian dollar issuance approaching the end of July, with a new Australian Office of Financial Management syndication joined by New Zealand Local Government Funding Agency’s latest Kangaroo deal as the main supply drivers. Elsewhere, Landesbank Baden-Württemberg became the first German commercial bank to print a Kangaroo transaction in nearly 20 years.
Household Capital reopened a long-dormant sector of the Australian public securitisation market on 18 July, when it priced its inaugural reverse residential mortgage-backed securities deal. The issuer says it plans to become a regular presence in the market amid the demographic-driven growth in the reverse mortgage product that some analysts expect to see.
Having access to household energy emissions data has long been mooted as a means to unlocking sustainable finance options in the residential market. A significant forward step may have emerged in the form of a partnership between CoreLogic and Australia’s national science agency.