NWB Bank launches May 2029 Kangaroo tap

On 10 May, NWB Bank (AAA/Aaa) launched a minimum A$15 million (US$10.5 million) tap of its existing May 2029 Kangaroo bond. The forthcoming transaction has indicative price guidance of 55 basis points area over semi-quarterly swap. The transaction is expected to price on the day of launch, according to sole lead manager Daiwa Capital Markets.