News
On 23 January, BNG Bank (AAA/Aaa) launched a minimum A$25 million (US$17.8 million) 'renewable-energy' Kangaroo bond with price guidance of 51 basis points area over swap. Daiwa Capital Markets is leading, with pricing expected on the same day as launch.
Council of Europe Development Bank (CEB) (AA+/Aa1/AA+) and Municipality Finance (MuniFin) (AA+/Aa1) launched 10.5-year Kangaroo bonds on 23 January.
Province of Alberta (A+/Aa1/AA) launched a minimum A$50 million (US$35.7 million) increase to its April 2028 Kangaroo bond on 23 January, with price guidance of 64 basis points area over semi-quarterly swap and 72 basis points area over Australian Commonwealth government bond. The tap will price on the same day as launch via ANZ.
Green-bond issuance in Australia is growing, though supply remains dominated by high-grade and bank issuers. Local investors say labelled issuance is only one part of a more complex picture, which sees the Australian buy side wrestling with measuring the impact of its allocations in an environment of growing demand for ethical investment.
On 23 January, Export Development Canada (EDC) (AAA/Aaa) launched a minimum NZ$100 million (US$67.5 million) increase to its November 2023 Kauri bond. The forthcoming deal has indicative price guidance of 42 basis points area over mid-swap and is expected to price on the day after launch. ANZ, BNZ and Commonwealth Bank of Australia are joint lead managers.
In November 2018, the first-ever KangaNews-Westpac New Zealand Sustainable Finance Summit took place in Auckland. The event brought together participants from across the New Zealand capital market including corporate entities, institutional investors and government to enhance dialogue about market-led solutions to the challenges posed by transition to a sustainable environmental and social future.