Debut Kangaroo issuer completes three-year FRN [UPDATED]
Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO) (AAA/Stable: S&P), and guaranteed by the Dutch government, has issued its inaugural Kangaroo issue. The new A$200 million (US$211 million) April 2014 floating rate note priced at 50 basis points over the bank bill swap rate.Australian corporates hit jackpot in US as banks flirt with Europe
The US dollar market has offered a fruitful source of debt funding for Australian corporates in recent weeks in both public and private format, with nearly US$4 billion pricing from five true corporate names since the end of March. Meanwhile, Australian banks have been active in the public euro market for the first time this year, with bank funding sources saying euro pricing has become more competitive with US levels.