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Credit agencies Moody’s Investors Service (Moody’s) and Standard & Poor’s (S&P) have confirmed that bonds issued by Sallie Mae (SLM) are likely to fall below investment grade if its expected takeover by a private equity consortium goes ahead.

A May 18 A$250 million (US$205 million) tap raised Instituto de Crédito Oficial (ICO)'s (AAA/Aaa/AAA) March 2011 bond to a total issuance of A$750 million.

Iceland's Landsbanki (Aa3/A) has completed a A$2 billion (US$1.67 billion) Kangaroo programme but seems unlikely to issue in the short term.

The Canadian province of Manitoba finalised a Kangaroo borrowing programme in mid-May in conjunction with both TD Securities and RBC Capital Markets (RBCCM).

On the eve of its second Australian roadshow, in the week beginning May 22, African Development Bank (AfDB) (AAA/Aaa/AAA) outlined ambitions to source funding in an increasingly diverse range of markets.

On May 8 EUROFIMA (AAA/Aaa) priced a A$100 million (US$83 million) increase to its 5.5 per cent June 2020 Kangaroo bond, bringing the total outstanding in the product to A$400 million and total Kangaroo outstanding to A$4.635 billion.

On May 18 the long-anticipated inaugural Kangaroo deal from Wachovia - the fourth-largest US bank in terms of assets - was priced, totalling A$1.45 billion (US$1.2 billion).

On May 23 Korea’s Shinhan Bank (A-/A1) priced its inaugural Kangaroo deal, a A$400 million (US$333million) two-tranche three-year note.

David Murray, chairman of the Future Fund, told delegates at an Australian Institute of Company Directors lunch in Sydney on May 16 that the Future Fund will be operational by the end of June.

French corporate issuer, Total (AA/Aa1), has established a A$1 billion Kangaroo programme arranged by RBC Capital Markets (RBCCM).

Wells Fargo (AA+/Aa1) has returned to the Kangaroo market, pricing a A$500 million (US$413.77m) five-year bond on May 3 at 18 points over swap.

Kaupthing Bank (Aa3/A) – the biggest of the three Icelandic-based banks with international operations – may choose 2007 as the year to enter the Kangaroo market.