KangaTrends
Rentenbank to roadshow to Aussie and Kiwi investors.
Kaupthing targets further issuance at roadshow.
Orix roadshow focuses on Australian subsidiary.
Countrywide bankruptcy talk overstated but problems remain.
Troubled NIBC Bank gets boost from proposed Kaupthing takeover.
Québec outlook up but borrowing to continue.
KfW opens local Thai baht bond market for international issuers.
Feature: Kauri market opens up to supras
While the Kangaroo market mirrored the rest of the world in August, with wild volatility putting issuance on indefinite hiatus, a number of triple-A rated issuers looked across the Tasman Sea and priced in the Kauri bond market.
Feature: A window on Dutch issuers
It’s been a lean year for Dutch Kangaroos, with a perfect storm of circumstances dampening issuance from this traditionally robust sector. KangaNews explores how Dutch banks are altering their issuance strategies as the global credit environment deteriorates – including focusing on short-term maturities, ramping up plans for the covered bond market, and spending more time on private placements.
Feature: Asian sun set to rise slowly
Until August’s credit crunch, market participants were focused on the next step forward for the Kangaroo market – with Asian issuers fairly high on the list of targets. As investors and intermediaries pick up the pieces after the shock, the picture for Asian Kangaroos is yet to clear and any optimism about the potential for this geographic sector is longer-term than before. With exclusive comments from the MOFE in Korea and snapshot of Korean issuers.
Q+A: Shinhan Bank
Hee-Sung Park, general manager of the treasury department at Shinhan Bank. On May 23 Korea’s Shinhan Bank (A-/A1) became the first Korean Kangaroo issuer in over a decade to enter the market, pricing a A$400 million (US$333 million) two-tranche three-year bond. The deal is widely considered to be a test of Australian appetite for Korean credit.
Feature: Triple-As and the Asian Bond Fund
The Asian Bond Fund initiative launched by 11 central banks in June 2003 was the first attempt within the region to stimulate the development of local bond markets. Now in the second development phase, the initiative has done much to achieve this aim. So far seven supranational issuers have bonds included in the index tracked by the Pan Asia Bond Index Fund.
KangaDeals
Exclusive data on Kangaroo deals issued from January 1 to August 24 2007.
Bookrunner league tables for the Kangaroo market.
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