Rentenbank adds A$250 million to 2017 Kangaroo [UPDATED]
Rentenbank (AAA/Aaa/AAA) increased its 6.5 per cent April 2017 Kangaroo by A$250 million (US$221.7 million) on August 26, in what was the issuer's first transaction since April and the ninth Kangaroo issued this month. The tap takes the total line size to A$500 million.Another upsize as RBS issues a A$1.5 billion fixed and floating rate 2013 [UPDATED]
On August 24, the Royal Bank of Scotland Australia Branch (RBS Australia) (A+/Aa3) issued a new A$1.5 billion (US$1.32 billion) three-year fixed and floating rate deal, upsized from an initial target volume of A$500 million. This transaction was the fifth to come from the local branch of an offshore bank this month.Offshore names remain in focus as Kangaroos track towards record
Australian deal flow in the past week continued the recent trend of centring on issuance from international names with local branches of offshore banks and supranational, sovereign and agency (SSA) sector Kangaroos again active. For local credits the most significant activity came in the securitisation space where one large deal priced and the pipeline started to produce flow.