BNG Bank launches April 2029 Kangaroo tap

BNG Bank (AAA/Aaa/AAA) launched a minimum A$25 million (US$17.4 million) increase to its April 2029 Kangaroo bond, on 7 June. Indicative price guidance for the forthcoming transaction is 52 basis points area over semi-quarterly swap, equivalent to 63.25 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to sole lead manager ANZ.