Stockland successfully places Australia’s first green bond, but no blowout

Stockland building for new website
By Jon Hay
23 Oct 2014

Stockland, one of Australia’s largest property developers, on Thursday launched the first green bond from an Australian issuer. The €300m bond, rated A-, was sold into a European market that had recovered well from a bout of turbulence last week, and was fully placed with high quality investors. But it was no blowout.

It was the issuer’s first bond in the European market, and lead managers HSBC and UBS said its sub-benchmark size meant it was never going to attract a huge book. However, some popular sub-benchmark bonds in Europe have been many times oversubscribed in the past.

Stockland has a ...

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