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.
On 2 August, World Bank (AAA/Aaa) revealed plans for a tap of its August 2020 Bond-i Kangaroo deal via Commonwealth Bank of Australia, RBC Capital Markets and TD Securities. The transaction will be open to investors in Australia and Singapore, to enable a broadening of the domestic-only inaugural deal. Investor update calls will take place on 5 and 6 August.