On February 1 Citigroup Inc. priced a three-tranche Kangaroo deal, with fixed and floating rate notes (FRNs) maturing on February 13 2012 and a fixed rate 10-year tranche maturing on February 13 2017.
A total of A$5.1 billion was issued by four US-based financial institutions in the first two weeks of February. This comprises 68.5 per cent of the total volume of A$7.45 billion issued in the year to February 16.
On November 15 2006 Dutch agency Bank Nederlandse Gemeenten (BNG) had A$500 million of Kangaroo bonds maturing. Via a hitch in the settlement process, bond investors were paid their final coupon and the principal a day late.
On January 10 Rentenbank - which has the biggest outstanding Kangaroo volume of A$5.65 billion - brought a A$300 million 6.25 per cent July 2010 deal led by ANZ Investment Bank (ANZIB) and RBC Capital Markets (RBCCM).
On January 18 triple-A rated German agency KfW Bankengruppe (KfW) priced a A$500 million 6.25 per cent January 2012 bond, opening a new line in the Kangaroo market and extending its curve to cover nine different maturities.
Council of Europe Development Bank followed its 2006 pattern of being one of the first issuers in the Kangaroo bond market, pricing a new maturity - a A$200 million 6.25 per cent January 2012 - on January 12.