New three-year domestic benchmark coming from BNP Paribas
BNP Paribas Australia Branch (BNP Paribas) (AA/Aa2/AA-) plans to price a new three-year deal in the domestic market no later than the morning of August 5. The transaction will be the issuer's second in a week, following the pricing of a A$250 million (US$227.9 million) increase to BNP Paribas' March 2015 line on July 30.EIB's A$500 million tap makes 2010 second biggest Kangaroo year
European Investment Bank (EIB) (AAA/Aaa/AAA) has increased its April 2015 Kangaroo bond by A$500 million (US$457.15 million). This deal makes 2010 the second largest year for Kangaroo volume in history, with A$25.575 billion issued so far. The record for Kangaroo issuance was set in 2006, when A$32.47 billion priced in the full year.
International flow firing again to and from Australasia
International flow is back on the agenda in Australasia, with Australian and New Zealand banks and corporates looking offshore to place deals while Kangaroo issuers continue to come to the market in a steady stream. Market participants say the basis swap is improving for European issuers into Australia, while bank activity is also predicted to return to the domestic market in the near future.SPI (Australia) Assets upsizes and prices A$500m five-year
SPI (Australia) Assets Pty Limited (SPIAA) (A-/A3) has priced a A$500 million five-year domestic bond at 185 basis points over swap. According to the lead managers, the book was in excess of A$600 million and the bonds were sold to over 50 investors.
KfW gets A$700 million in 2015 tap
KfW Bankengruppe (KfW)'s (AAA/Aaa/AAA) TD Securities, UBS Investment Bank and Westpac Institutional Bank-led May 2015 Kangaroo bond increase closed with a A$700 million (US$627.2 million) volume on July 29. This transaction follows the issuer's A$850 million tap to its December 2019 bond that priced on July 15.