BNG Bank launches April 2029 Kangaroo tap

On 12 July, BNG Bank (AAA/Aaa/AAA) launched a minimum A$15 million (US$10.5 million) tap of its April 2029 Kangaroo bond. Indicative price guidance is 52 basis points area over semi-quarterly swap, equivalent to 59 basis points area over April 2029. Pricing is expected on the day of launch, according to sole lead manager RBC Capital Markets.