Our latest NZX Top 50 Funding Composition Trends & Insights publication reports that CFOs of New Zealand’s largest companies have a shared optimism for their ability to raise funds, in what looks to be a challenging year ahead.
Our annual analysis of the New Zealand Main Board (NZX) Top 50, tracks trends in funding arrangements. New to our research scope this year, comparisons have also been made with the Top 50 entities listed on the Australian Main Board (ASX Top 50), and CFOs in the NZX Top 50 sample group were invited to share valuable insights through a survey covering a broad variety of topics.
Key findings include:
- the NZX Top 50 are going into the post-Omicron phases of the pandemic with significant proportions of their bank facility commitments available for drawing
- investor appetite for corporate-issued retail bonds remained steady
- green and sustainability-linked financing continued its upward trajectory, and
- a number of entities reported a rise in interest and financing costs – a reflection of the incremental OCR hikes which have occurred over the 12 month period.
The report also highlights that ASX Top 50 entities are more diversified in their debt financing arrangements than their New Zealand counterparts.