Another Kangaroo hits A$1 billion as IADB taps 2014s
Inter-American Development Bank (IADB) (AAA/Aaa/AAA) priced the fourth Kangaroo deal in two days on October 2, adding A$250 million (US$217.46 million) to its May 2014 line and bringing the size of the line to A$1 billion in the process. The deal priced at a margin of 65 basis points over the June 2014 Australian government bond, which rate sheet data suggests equates to high single figures basis points over swap.
Waitakere prints NZ$150 million as NZ councils return
A NZ$150 million (US$106.74 million) 2014 wholesale transaction from Waitakere City Council (Waitakere) (A+) is the largest of a trio of recent deals from New Zealand local authority issuers, with the deal's lead manager saying the sector might finally be primed to start meeting some of the unfulfilled demand for semi-government issuance in New Zealand.More Kangaroo volume as KfW taps 2015 to A$1 billion [UPDATED]
Offshore demand drove the A$500 million (US$440.85 million) increase to KfW Bankengruppe (KfW)'s (AAA/Aaa/AAA) 2015 Kangaroo line, with the outstanding size of the bond reaching A$1 billion after the tap. After three quiet weeks there have now been four Kangaroo transactions from three issuers in three days, with a total of A$2 billion of paper being priced since September 29.
EIB's 2019 tap caps A$1.45 billion Kangaroo day
The third Kangaroo priced on October 1 came from European Investment Bank (EIB) (AAA/Aaa/AAA), which increased its March 2019 bonds by A$600 million, bringing the total outstanding in this line to A$1.65 billion. The increase, led by RBC Capital Markets (RBC), priced at "low 20s" over swap according to Eila Kreivi, head of funding for the Americas and Asia Pacific at EIB in Luxembourg.
Rentenbank taps 2014 Kangaroo to A$1 billion [UPDATED]
On October 1 German development agency Rentenbank (AAA/Aaa/AAA) brought the size of its July 2014 Kangaroo line to A$1 billion (US$879.6 million) with a A$350 million increase. The issuer inaugurated the five-year bond in a A$550 million deal on July 2 this year and has brought it to benchmark size with the line's second tap.