Kangaroo run continues with A$700 million from two issuers [UPDATED]
Two deals – from Council of Europe Development Bank (CEB) (AAA/Aaa/AAA) and Inter-American Development Bank (IADB) (AAA/Aaa) – priced a total of A$700 million (US$654.08 million) in the Kangaroo market on November 17. At the same time a third supranational – African Development Bank (AfDB) (AAA/Aaa/AAA) – was on roadshow in Australia with the goal of becoming a more regular Kangaroo borrower.Frequent borrowers back on NAB radar following reorganisation
The long-awaited reorganisation of National Australia Bank (NAB)'s debt business has brought the bank back into the frequent borrowers space where it has been under-represented for some time, with new roles for several individuals with track records in that market. Corporate and less frequent borrower activity has also been restructured in an attempt to offer synergies between bond, loan and securitisation markets.KfW prices A$350 million 2017 increase
German agency KfW Bankengruppe (KfW) (AAA/Aaa/AAA) has increased its March 2017 line, pricing a A$350 million (US$327 million) tap via lead manager TD Securities. The tap brings the entire line to A$850 million. The new tranche priced at 104.75 basis points over the February 2017 Australian government bond, which, according to KangaNews calculations, equates to high 30s to 40 over swap.
NIB increase brings weekly Kangaroo issuance to A$2.28bn
On November 13 Nordic Investment Bank (NIB) (AAA/Aaa) increased its 6 per cent August 2014 Kangaroo bond by A$200 million (US$185.7 million), bringing the total in this line to A$500 million. The tap, led by ANZ Banking Group and Deutsche Bank, priced at 27 basis points over mid-swaps or 82.5 basis points over the 6.25 per cent June 2014 Australian commonwealth governnment bond. This compares with pricing of 36 basis points over swap when NIB inaugurated the line on August 12.