NIB increase brings weekly Kangaroo issuance to A$2.28bn
On November 13 Nordic Investment Bank (NIB) (AAA/Aaa) increased its 6 per cent August 2014 Kangaroo bond by A$200 million (US$185.7 million), bringing the total in this line to A$500 million. The tap, led by ANZ Banking Group and Deutsche Bank, priced at 27 basis points over mid-swaps or 82.5 basis points over the 6.25 per cent June 2014 Australian commonwealth governnment bond. This compares with pricing of 36 basis points over swap when NIB inaugurated the line on August 12.
KfW prices A$350 million 2017 increase
German agency KfW Bankengruppe (KfW) (AAA/Aaa/AAA) has increased its March 2017 line, pricing a A$350 million (US$327 million) tap via lead manager TD Securities. The tap brings the entire line to A$850 million. The new tranche priced at 104.75 basis points over the February 2017 Australian government bond, which, according to KangaNews calculations, equates to high 30s to 40 over swap.
NIB's second Kauri of 2009 makes it largest offshore NZ issuer
Following the November 6 pricing of its second Kauri transaction of 2009 – a NZ$100 million (US$74.04 million) increase to the issuer's 2015 line – Nordic Investment Bank (NIB) (AAA/Aaa/AAA) has become the largest Kauri issuer by outstanding volume. Its total of NZ$950 million in two New Zealand market lines pushes European Investment Bank (EIB)'s (AAA/Aaa/AAA) NZ$900 million into second place.Westpac lengthens Aussie bank market with seven-year domestic
Westpac Banking Corporation (Westpac) (AA/Aa1) returned to its domestic market on November 11 with the pricing of A$2.5 billion (US$2.32 billion) of five- and seven-year paper. According to KangaNews data, the 2016 tranche – which is unguaranteed – is the longest-dated senior unsecured, domestic transaction from an Australian big four bank since the same issuer priced A$140 million of 10-year notes in August 2001.EIB breaks Kangaroo records with A$1.5 billion new 2015 [UPDATED]
On November 11 the European Investment Bank (EIB) (AAA/Aaa) priced a A$1.5 billion (US$1.39 billion) April 2015 Kangaroo bond – the largest single tranche transaction ever issued into the Kangaroo market. The new line priced at 83 basis points over the benchmark April 2015 Australian government bond, which rate sheet data indicates equates to the region of 23-25 basis points over swap.