KangaTrends
JPMorgan Chase prices inaugural Kangaroo.
Maturity/issuance correlation suggests busy October.
Investor survey shows corporate covenant demand.
GPS120 impact played out but reversal hopes remain.
Kaupthing to roadshow again.
IFC preparing Kangaroo programme.
Sub-prime issues hit US financials’ earnings.
ICO tap.
Q&A: Morgan Stanley
Morgan Stanley has been an impressive issuer in the Kangaroo, Kauri and Maple bond markets. Jai Sooklal, MD and global head of long-term financing, outlines the bank’s aspirations in the non-core dollar markets.
Feature: Back office battle in progress
Following Austraclear’s decision not to take new registry and paying agent business, the space has been eyed by ambitious competitors and at least one new entrant.
Kangaroo forum: Linking up the market
Issuers meet in London to talk with Aussie market participants about headline issues in the Kangaroo bond market.
Feature: Visible means of support
As the Kangaroo market catches its breath after a period of runaway growth in issuance, participants are asking about the structure and robustness of secondary market support. The consensus is that the secondary market has performed acceptably in benign conditions but it could be vulnerable to an external shock.
Investor spotlight: Victorian Funds Management Corporation
VFMC manages a large proportion of the state government’s investment assets. In July 2006 the firm started a process of more active management and bringing assets in-house under the aegis of a new chief investment officer, Leo de Bever.
KangaDeals
Exclusive data on Kangaroo deals issued from January 1 to June 28 2007.
Bookrunner league tables for the Kangaroo market.
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