BNG Bank launches July 2028 Kangaroo tap

BNG Bank (AAA/Aaa/AAA) launched a minimum A$20 million (US$13.5 million) increase to its July 2028 Kangaroo bond on 1 October. The deal is being marketed at 51 basis points area over semi-quarterly swap, equivalent to 50 basis points area over Australian Commonwealth government bond and is expected to price on the day of launch. TD Securities is leading.