Ontario returns for a 2027 Kangaroo tap

Province of Ontario (Ontario) (A+/Aa2) launched a minimum A$25 million (US$19.2 million) increase to its January 2027 Kangaroo bond on 28 February. The transaction is being marketed at 80 basis points over semi-quarterly swap, will be priced on day of launch and is being led by TD Securities.

BTMU Sydney mandates new four-year domestic deal

Bank of Tokyo-Mitsubishi UFJ Sydney Branch (BTMU Sydney) (A+/A1) mandated ANZ, Morgan Stanley, MUFG Securities, National Australia Bank and Westpac Institutional Bank for a domestic transaction on 28 February. The four-year deal is being marketed in the area 105-110 basis points over swap benchmarks.

CommBank completes the bookbuild on its tier-one hybrid [UPDATED]

On 28 February, Commonwealth Bank of Australia (CommBank) announced it has completed the bookbuild on its tier-one hybrid offer, Perls IX. The deal has been increased to A$1.45 billion (US$1.11 billion) from A$750 million and the margin has been set at 390 basis points over bank bills, the tight end of the indicative 390-410 basis points over bank bills range.

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IADB plans a tap of its April 2027 Kangaroo

On 28 February, Inter-American Development Bank (IADB) (AAA/Aaa/AAA) mandated a tap of its April 2027 Kangaroo bond. Initial price guidance is 49 basis points over semi-quarterly swap.

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Rentenbank mandates 2025 Kangaroo tap

Rentenbank (AAA/Aaa/AAA) mandated an increase to its January 2025 Kangaroo bond on 27 February, via RBC Capital Markets and TD Securities. The increase, which is due to price the day after launch, is for minimum volume of A$50 million (US$38.5 million) and is being marketed at 59.25 basis points over Australian Commonwealth government bond or 55 basis points over semi-quarterly swap.

Latest Issue 2017 February-March

Lastest Issue

Unpicking the role of global price comps in domestic corporate deals. USPP and global investor views. The ‘fourth phase’ for SSA Kangaroos. Australia’s first blockchain bond trial and the role of intermediaries. Plus news and deals.