TD Securities
State of rates: Australia's high-grade market in depth
On 22 October, KangaNews hosted the latest in the KangaNews Debt Capital Markets Summit 2020 webinar series. The session had a rates-market flavour, including a discussion between some of Australia’s leading market participants about how massively increased sovereign issuance, central-bank intervention and a raft of new dynamics will shape their sector.
New Zealand’s debt market gets ready to deliver
The KangaNews New Zealand Debt Capital Market Summit 2024 – which took place in Auckland on 11 September – delivered a report card on local market functionality and ability to deliver capital where it is needed. Participants discussed a raft of challenges including financing infrastructure and transition, and providing investors with diversity and liquidity. An improving economy and growing scale hold promise for the years ahead.
Tier-two demand gives Judo an eight-times oversubscription
Australian dollar investors' preference for the yield offered by tier-two issuance delivered overwhelming demand for Judo Bank’s latest deal. The book grew to more than A$1 billion despite the transaction’s subinvestment grade profile, facilitating a margin revision and final pricing 165 basis points tighter than the issuer’s previous subordinated debt print.
OMERS debut amplifies Canadian presence in Kangaroo market
OMERS Finance Trust is the latest issuer to join the cohort of Canadian high-grade names that have accessed the Kangaroo market. Despite debuting in an increasingly volatile market environment and during a quieter period for primary supply, the issuer achieved an oversubscribed orderbook and an upsized print. The Toronto-based issuer tells KangaNews about where Australian dollar funding fits into its strategy.
Financial Kangaroos’ July bounce paints positive picture
A steady stream of financial institution Kangaroo supply in July even as domestic deal flow slowed highlights capacity in the Australian dollar market. The more consistent relevance of Australian issuance to international financial institutions is giving deal sources grounds for optimism about ongoing sector growth.
Kangaroo market’s destination Canada
Investor diversity, relative value and the growing status of the Australian dollar market lined up for a quartet of Canadian provinces as they shattered the record volume for the sector in Kangaroo format. The nearly A$5 billion issued in the span of a few weeks represents a sea change for provincial activity – but might be hard to repeat.
SSA Yearbook 2024
The annual guide to the world's most significant supranational, sovereign and agency sector issuers.
WOMEN IN CAPITAL MARKETS Yearbook 2023
KangaNews's annual yearbook amplifying female voices in the Australian capital market.