TD Securities

Thursday, 18 April 2019
Apr/May 2019 Supplement

IBOR of the beholder

The future of interbank offered rates (IBORs) is under question globally. While Australia’s rate appears to stand a better chance of survival than many of its global peers, local market participants cannot afford to be complacent in a rapidly evolving environment. IBOR transition was explored in depth at the KangaNews Debt Capital Markets Summit 2019, including in a panel discussion featuring leading local and international experts.

Wednesday, 22 May 2019

World Bank’s Bond-i enters new phase as secondary trading gets underway

In the next step in the evolution of applying blockchain technology to debt capital markets, it is now possible to trade World Bank’s Bond-i on the blockchain platform. Participants say interest in the platform has only continued to accelerate since the deal was introduced in August 2018, and that further development is still ongoing.

Tuesday, 21 May 2019

EUROFIMA to tap its May 2029 Kangaroo bond

On 21 May, EUROFIMA (AA+/Aa2) mandated TD Securities for a minimum A$15 million (US$10.4 million) increase to its May 2029 Kangaroo bond. The forthcoming transaction is being marketed at 62 basis points area over semi-quarterly swap, equivalent to 74.5 basis points area over Australian Commonwealth government bond. The deal is expected to price on the day of launch.

Thursday, 16 May 2019

World Bank increases liquidity in February 2024 Kangaroo line

On 15 May, World Bank priced a A$800 million (US$553 million) increase to its February 2024 Kangaroo bond, bringing the total outstanding in the line to A$2.1 billion. The tap was led by Deutsche Bank, Nomura and TD Securities and is the largest Australian dollar deal from a supranational, sovereign and agency (SSA) borrower since World Bank introduced the line in February with a A$1.3 billion deal.

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