Australia

French bank back for the third time in two weeks with a three tranche Kangaroo

◆ Deal precedes redemption of AT1 and exacerbates shortage of paper in the currency ◆ Issuer locks in ‘very good’ arb ◆ HSBC’s third trade this week follows sterling covered and senior bonds

Landmark Australian climate settlement removes a stumbling block but action is still needed

Asian borrowers are finding better funding options in Australian dollars and Japanese yen as higher US dollar interest rates bite

Singaporean bank captures large orders amid scarcity of Aussie supply, with more foreign lenders to follow

DMO believes investors will be keen, despite expanding gas production

◆ Offshore banks eye August and September window ◆ Aussie dollar pricing comparable to euro curves for some

Western Australia shows that a heavy reliance on environmentally intensive natural resources is at odds with the highest credit ratings

EFA and NAIF are financing fossil fuel expansion as government readies green bond

Sovereign maintains its plan to make its green debut in mid-2024

◆ WA is the fourth Aussie state to issue a green bond ◆ More labelled Australian SSA issuance to come over the next year

As a high polluter, the country's green bond framework must be especially robust to have credibility