NIB increases fixed rate tranche of 2015 Kangaroo by A$325 million [UPDATED]
On October 26 Nordic Investment Bank (NIB) (AAA/Aaa) issued a A$325 million (US$322.1 million) increase to the fixed rate tranche of its April 2015 Kangaroo line. The bond was first placed in March this year in a A$600 million (US$591.2 million) transaction – NIB's only Kangaroo activity so far in 2010 – with that deal split equally into fixed and floating rate notes.Semi-government syndication still in treasury corporations' armoury
None of the four largest state government funders rule out the use of syndication for their future deals despite improving market conditions and ample demand for Australian semi-government debt. The most active syndicated state borrower – Queensland Treasury Corporation (QTC) (AA+/Aa1) – draws a key distinction between the use of lead managers to consolidate federal-guaranteed bonds into standalone lines and bookbuild for new benchmarks.
IFC increases 2020 Kangaroo by A$400 million [UPDATED]
International Finance Corporation (IFC) (AAA/Aaa) increased its July 2020 Kangaroo bond by A$400 million (US$393.1 million) on October 21, one day after launching. The line, which was introduced in July this year, brings the total volume outstanding to A$900 million.