Kanga.Trends
EIB kicks off 2011 Kangaroo market with 2020 tap.
ADB increases 2016 by A$1bn.
KfW nets A$600m.
AfDB returns to Kangaroo market for first time in almost five years.
World Bank prices two Kangaroo increases.
KBN adds new 2015 FRN and tops up 2014s.
SNS Bank buys back Kangaroos.
Scotiabank takes A$1bn in Kangaroo covered bond debut.
Rentenbank prices new five-year Kangaroo.
KfW tap takes monthly Kangaroo volume to record level.
EIB third borrower to add FRN to Kangaroo tap.
ANZ and Westpac’s US activity dominates first days of 2011.
Rabobank prices new A$900m 2015.
CBA gets A$2.5bn in largest-ever non-guaranteed domestic ADI deal.
BNP Paribas prices A$800m.
NAB issues A$1.25bn domestic three-year.
Roundtable: USPPs: Expectations for another big-volume issuance year
On January 24 Commonwealth Bank of Australia and KangaNews brought together nine of the most prominent US private placement investors to discuss prospects for the market in the year ahead and their appetite for Australian corporates. Investors predict another strong year for this market and the diversity Australian companies bring is unanimously welcomed.
Feature: Business as usual
For the first time since the financial crisis, a new year has begun with Australia’s offshore currency borrowers confident that global conditions for their debt will broadly match the preceding 12 months. Predictions of a range-bound basis swap will mean offshore borrowing will still come at a premium, but with domestic capacity set for only marginal growth the heavy lifting for issuers with big funding volumes will remain international.
Feature: The new normal
Institutional and retail demand for Australian dollars looks set to bring narrowing pressure on the basis swap in 2011. But even with new issuance channels – like the return of Kangaroo covered bonds – there is little prospect of flows into Aussie dollars matching those in the opposite direction.
Kanga.Deals
Exclusive data and league tables for Australian domestic and Kangaroo markets priced in the year to January 28. |
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