AIIB issued its inaugural A$500 million Sustainable Development Kangaroo bond under its A$ and NZ$ Debt Issuance Programme on 6 May 2021.

AIIB began operations in Beijing in 2016. It is a multilateral development bank with 103 approved members from around the world, representing around 80% of the global population.  By investing in sustainable infrastructure, AIIB unlocks new capital, new technologies and new ways in which to address climate change and to connect Asia, and the world.

Commenting on the appointment, James Connell, General Manager, Corporate Trust and Securitisation, Equity Trustees said: “AIIB’s work is key to expanding and improving essential infrastructure in Asia. We are delighted to be working with the AIIB for the first time in Australia, providing Australian investors with the opportunity to participate in the rapid development of the Asian region.”

AIIB is rated AAA/Aaa/AAA respectively by Standard & Poor’s, Moody’s Investors Services and Fitch Ratings.

AIIB’s mission is to enable clients to build Infrastructure for Tomorrow—green infrastructure with sustainability, innovation and connectivity at its core. The Bank currently has in excess of 110 projects approved, with total approved financing of over US$24 billion. AIIB’s investments focus on one or more of its four thematic priorities; green infrastructure, connectivity and regional cooperation, technology-enabled infrastructure and private capital mobilisation.

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James Connell

Challenger Limited (ASX:CGF) has appointed Equity Trustees as note trustee for its Challenger Capital Notes 3, a new subordinated, unsecured, perpetual convertible security, which raised A$385 million.

On 25 November 2020, Challenger issued Challenger Capital Notes 3, which are listed and tradeable on the ASX. The proceeds from the offer were used to fund the regulatory capital requirements of Challenger Life Company Limited and help refinance an earlier release of capital notes (Challenger Capital Notes) through a reinvestment offer and repurchase invitation.

Commenting on the appointment, James Connell, General Manager Corporate Trust and Securitisation, Equity Trustees said: “We are delighted to be working with Challenger on the issue of these notes which is one of the most significant retail notes deals for which Equity Trustees has been appointed”

Equity Trustees’ Corporate Trust and Securitisation business specialises in providing agency and trustee services to the debt capital and loan markets, securitisation industry as well as real estate trustee services.

“We have built significant expertise in this specialised area of service. This has enabled us to consistently grow our client base and funds under supervision and we have a strong pipeline of deals tabled for 2021,” Mr Connell concluded.

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The Equity Trustees Corporate Trust and Securitisation business specialises in providing agency and trustee services to the debt capital and loan markets, securitisation industry as well as real estate trustee services.

Pei has more than 10 years of experience in securitisation and structured finance, most recently as a Vice President and Client Services Manager with the Bank of New York Mellon where his portfolio included global institutional clients with products ranging from conventional debt issuance and asset/mortgaged backed securitisation through to complex cross-border securitisations.

“Equity Trustees is attracting high quality clients in this specialised area of service,” said James Connell, General Manager of Corporate Trust and Securitisation, Corporate Trustee Services.

“Pei brings with him an abundance of experience which will be focussed on our developing Debt Capital and Loan Market business where he will be responsible for on-boarding new business, daily transaction administration and compliance monitoring for our clients.”

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Mr Connell has significant expertise in corporate trusteeship, coupled with experience as a lawyer, and transaction manager with a leading institutional bank. His most recent role was Vice President, Transaction Management Group Asia for Deutsche Bank in Hong Kong.

“James will be an important addition to our strengthening team,” said Harvey Kalman, Executive General Manager, CTS. “We will be rounding out our services to include Debenture/Note Trusteeship, Security Trusteeship, Escrow Agency, Property and Special Custody, as well as other CTS and bespoke corporate trust transactions.”

CTS has grown into Australia’s largest independent responsible entity (RE) service provider since it was established 17 years ago with just three clients, seven funds and $700m in funds under supervision. It now services more than 100 clients, 240 funds and over $50bn funds under supervision.“Importantly, this appointment signals our commitment to growing our presence in Sydney. We are already leaders in the responsible entity service area, and James brings added expertise, drive and commitment to the CTS team to grow our corporate trustee service area and strengthen our market position,” said Mr Kalman.

The CTS team has set its sights on the expanding fund manager market in Asia and overseas, which requires Australian RE, trustee and corporate trustee services, as part of its continued evolution and development.

“Our clients can be assured that they are being looked after by one of the most credentialed and experienced specialist corporate trustee team in the business,” said Mr Kalman. “We are committed to recruiting great talent and welcome James to the Equity Trustees team.”

Mr Connell holds an LLB (Hons) from Kings College, University of London, England and a Diploma in Legal Practice from the College of Law, Guildford, England. He is registered to practice in Australia and the UK, and is also currently a Director, and Treasurer of the Banking and Financial Services Law Association.

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