KfW nets A$200 million in first 2017 Kangaroo deal of year [UPDATED]
KfW Bankengruppe (KfW) (AAA/Aaa/AAA) has added A$200 million (US$167.58 million) to its March 2017 Kangaroo bond in the first transaction of that maturity in the Kangaroo market this year. Market sources say the increase priced at 30 basis points over swap or around 93 basis points over the February 2017 Australian government bond.Mostly real money demand for CommBank's A$1.35 billion 2013
The margin of 89 basis points over swap and bank bill swap rate (BBSW) on the A$1.35 billion (US$1.13 billion) of four-year unguaranteed benchmark bond transaction priced by Commonwealth Bank of Australia (CommBank) (AA/Aa1/AA) on September 3 indicates the tightest level for a deal of this duration from a big four Australian bank issuer for nearly two years.
Wesfarmers launches first Aussie public MTN since 2005
Wesfarmers (BBB+/Baa1) is seeking a minimum of A$250 million (US$208.55 million) in a new five-year domestic medium-term note (MTN) transaction it launched on September 3. The deal, which has indicative pricing of 275 basis points over swap and is expected to price by September 4, will be the issuer's first public domestic bond transaction since it sold A$250 million of three-year paper in June 2005.CEB to return to Kangaroo market with new 2014
Council of Europe Development Bank (CEB) (AAA/Aaa/AAA) launched its second Kangaroo deal of the year on September 3, offering a new five-year maturity bond which lead managers Commonwealth Bank of Australia and TD Securities say will price "subject to market conditions". The same issuer inaugurated its 2013 Kangaroo in a A$300 million (US$250.11 million) deal on May 27 this year.TCV caps first bookbuilt benchmark at A$1.5 billion
Treasury Corporation of Victoria (TCV) (AAA/Aaa/AAA) priced its first ever bookbuilt transaction on September 2, capping the size of the new June 2020 line at A$1.5 billion (US$1.25 billion) a day after launch. The deal priced at 80 basis points over the April 2020 Australian government bond – towards the tighter end of the indicative range but a slight premium to TCV's existing curve.