IADB sees more potential in Australia following Kangaroo return [UPDATED]
Having already increased its Kangaroo market outstandings by A$2.625 billion (US$2.44 billion) in less than a year – in the process leaping from 13th largest Kangaroo borrower to fifth – Inter-American Development Bank (IADB (AAA/Aaa/AAA) believes it can develop its Australian presence still further. The supranational priced its first deal of 2010 on January 8, selling A$750 million in a tap to its May 2014 line.International investors drive first Kangaroo deal of 2010 [UPDATED]
The Kangaroo deal placed on January 6 by KfW Bankengruppe (KfW) (AAA/AAA/AAA) – the first of 2010 – attracted predominantly offshore demand, according to the issuer. However, with one third of the paper picked up by domestic buyers KfW is hopeful that 2010 will be another strong year overall for the supranational, sovereign and agency (SSA) Kangaroo market.Westpac doubles size of RMBS return to A$2 billion
Westpac Banking Corporation (Westpac)'s (AA/Aa1/AA-) first residential mortgage-backed securities (RMBS) deal since May 2007 was upsized to A$2 billion (US$1.76 billion) for pricing on December 18. The Series 2009-1 WST Trust (WST 2009-1) was launched as an offering of a minimum of A$920 million in class A senior notes, with a further A$80 million divided between two subordinated tranches.