Deal and ratings review, week ending September 19 2014

Capital-markets activity in the third week of September was limited to three Kangaroo deals on one side of the Tasman, and a return to issuance for Auckland Council on the other. Elsewhere, the bid for 49 per cent of Yieldbroker by the Australian Securities Exchange valued the platform at more than A$130 million (US$116.3 million) and Aurizon talked funding strategy

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ASX bids for substantial Yieldbroker stake

The Australian Securities Exchange (ASX) has made an offer to acquire a 49 per cent stake in Yieldbroker, with a bid which values the OTC trading platform at more than A$130 million (US$116.4 million). The bid has the support of both companies’ boards, according to a joint statement, but is subject to “satisfactory acceptances” from Yieldbroker’s 12 existing shareholders – all intermediary banks.

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KfW adds A$150 million to its 2025 Kangaroo

KfW Bankengruppe (KfW) (AAA/Aaa/AAA) mandated and priced a tap to its February 2025 Kangaroo bond on September 17. The line was originally launched in August, for a volume of A$450 million (US$408.7 million) at pricing of 57.5 basis points over Australian government bond (ACGB).

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More 10-year-plus Kangaroo supply as Québec prices a new tap to its 2025 bond [UPDATED]

On September 17, Province of Québec (Québec) (A+/Aa2/AA-) made a quick return to the Kangaroo market launching and pricing a tap to its 2025 Kangaroo bond. Québec priced the first tap to this line less than a week ago.

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Latest Issue 2014 September

Lastest Issue

NZ summit report: a changing market discussed at the KangaNews New Zealand DCM Summit. SSA Kangaroo issuance moves with the times. Western European FIs in focus. Australia's financial system inquiry interim report analysed. Bird's Eye View: surprise relative value in rates assets.