Monthly Kangaroo record broken as favourable conditions persist
Recent predictions that Kangaroo deal flow in January would be down on the same month last year have been confounded, with the record for Kangaroo issuance in a single month being broken on January 20. The surprise factor appears to be consistently strong demand from the domestic investor base, with real money selectively joining a robust bank bid.EIB third borrower to add FRN to Kangaroo tap
European Investment Bank (EIB) (AAA/Aaa/AAA) completed its second transaction of 2011 on January 21, in the form of a A$350 million (A$345.9 million) increase to its 2014 line. It also added a A$350 million floating rate note (FRN) tranche to the same maturity, following in the footsteps of Rentenbank - which issued a A$425 million FRN on January 19 - and Kommunalbanken Norway - which inaugurated a A$100 million FRN on January 18 before tapping it for the same amount two days later.KfW 2020 tap takes monthly Kangaroo issuance to record level [UPDATED]
The record for Kangaroo issuance in a single month has been broken, with KfW Bankengruppe (KfW)'s (AAA/Aaa/AAA) latest A$700 million (US$697.1 million) tap bringing January 2011's total Kangaroo volume to A$6.45 billion on January 20. The previous record was set in March 2010, when A$6.4 billion of Kangaroos were issued. And this month's volume is set to increase further, with another deal launched by European Investment Bank (AAA/Aaa/AAA) on the same day.