KBN adds new 2015 FRN to 2014 Kangaroo increase [UPDATED]
Kommunalbanken Norway (KBN) (AAA/Aaa) increased its October 2014 Kangaroo by A$250 million (US$248.1 million) on January 18, adding to the transaction a new 2015 maturity floating rate note (FRN). The transaction was KBN's first Kangaroo issue since August last year, when it priced A$100 million in the third tap to its February 2013 maturity.World Bank returns to Kangaroo market with two taps
On January 17, World Bank (AAA/Aaa) mandated an increase to two of its Kangaroo lines – the October 2014 and October 2020 – in what will be the first taps to both lines. The forthcoming transactions are set to become the fifth and sixth deals to price in the Kangaroo market in 2011 and are expected to add significant volume to the A$2.2 billion (US$2.2 billion) of Kangaroos sold so far this year.New year opens with a bang with Kangaroo and domestic deal flow
Although intermediaries believe the first months of 2011 are unlikely to surpass record Kangaroo issuance levels seen at the start of 2010, there is a degree of confidence that encouraging early deal flow in the Kangaroo market will be maintained. Several sources point to a number of roadshows being undertaken by names across asset classes – including the supranational, sovereign and agency (SSA), financial institution (FI) and covered bond sectors – as a reason for optimism.
SNS Bank retires majority of only outstanding Kangaroo [UPDATED]
SNS Bank (A-/A3/A-) has bought back the majority of paper in its single outstanding maturity in Australian dollars. The buyback reduces the original volume of A$200 million (US$199.4 million) on issue in each of the line's fixed and floating rate tranches, both of which are subordinated, by A$174.75 million and A$171.6 million respectively.