BNG Bank launches July 2028 Kangaroo increase

On 21 February, BNG Bank (AAA/Aaa/AAA) launched a minimum A$25 million (US$16.5 million) increase to its July 2028 Kangaroo bond. Indicative price guidance for the forthcoming transaction is 50 basis points area over semi-quarterly swap, equivalent to 48.25 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch, according to Mizuho Securities.