BNG responds to investor demand with quiet Kangaroo return
Dutch agency Bank Nederlandse Gemeenten (BNG) (AAA/Aaa/AAA) has issued a privately-placed A$230 million (US$213.92 million) November 2013 Kangaroo bond with ANZ Banking Group (ANZ) as lead manager. This is the first time BNG has been present in the Kangaroo market since November 2006.ANZ seven-year hybrid points to confidence revival, lead says
The second hybrid deal from an Australian big four bank to launch in just over two months is a sign of returning confidence in the asset class, according to one of the leads on the latest transaction. ANZ Banking Group (ANZ) (AA/Aa1/AA) launched its CPS2 deal on November 10 seeking volume of A$750 million (US$697.13 million) with room to up- or downsize depending on demand.
Securitisation confidence builds with ME Bank and Capital Finance launches
Signs of returning confidence in Australia's asset-backed security (ABS) market are continuing with two deals set to price in the next week. Capital Finance, an Australian subsidiary of the British banking group Lloyd's, will issue A$621.3 million (US$574.7 million) in a debut auto loan deal to price by November 17 while ME Bank has launched its third residential mortgage-backed security (RMBS) deal of 2009, with pricing expected by the same date.