Australian market offering panoply of asset class activity
Diversity returned to the Australian market in the past week following a period of low issuance, with the two market staples of recent times – big four bank and supranational, sovereign and agency (SSA) Kangaroo issuers – virtually silent. Primary volume has instead been driven by true corporates, a large deal from a local branch of an international bank, and the sub debt and residential mortgage-backed securities (RMBS) markets.
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KfW prices first SSA Kangaroo for a month [UPDATED]
Following a month-long market hiatus,
KfW Bankengruppe (KfW) priced the first new Kangaroo transaction from a borrower in the supranational, sovereign and agency (SSA) sector for over a month on March 24. The deal increased KfW's August 2020 line by A$250 million (US$253.3 million), bringing the total size of the bond to A$2.2 billion.
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