Second Kangaroo in two days as EIB prices A$1 billion
European Investment Bank (EIB) (AAA/Aaa/AAA) has priced A$1 billion (US$892.9 million) in a a new 10-year Kangaroo line. It is the third Kangaroo transaction to come to the market in a week, following almost a month without issuance. The August 2020 issue, which priced on July 22, was lead-managed by Deutsche Bank, RBC Capital Markets and TD Securities.World Bank takes 2014 Kauri over NZ$1 billion
World Bank (AAA/Aaa/AAA) has priced an increase to its December 2014 Kauri bond. This transaction is the first Kauri issued since Telstra Corporation's NZ$100 million (US$70.6 million) deal priced on May 6. The World Bank line now has NZ$1.025 billion million outstanding, making it the first Kauri of over NZ$1 billion
Kangaroos, banks and corporates all active as issuance picks up
The stars appear to be aligning again for sustained issuance in Australia with a domestic bank benchmark, a landmark corporate transaction and a large Kangaroo increase suggesting there could be activity in several market sectors. Market participants are cautiously positive about market prospects, although deal flow has been patchy since April.