Mizuho Securities
Rapid renaissance
Asian demand has been a consistent component of the Australian dollar credit market in recent years and – to the surprise of some – has emerged from the first phase of the COVID-19 crisis as a still-reliable bid. Yield and credit quality factors are crucial, as the relative stability Australian credit offers attracts consistent demand.
BFCM leans on strength of relationships to support Kangaroo return
Deal source say demand for Banque Fédérative du Crédit Mutuel’s return to the Kangaroo market was supported by the issuer’s disciplined investor relations approach and tailored deal structure. In particular, engagement with Asian investors facilitated a satisfactory outcome.
ENBD navigates busy market with oversubscribed 10-year Kangaroo
Sources on Emirates NBD Bank’s return to the Australian dollar market say a significantly improved UAE economic outlook and disciplined execution contributed to positive demand for a 10-year Kangaroo deal, despite the deal coming to market during a period of heightened primary supply.
BPCE’s Kangaroo comeback delivers market milestones
Groupe BPCE is a longstanding Kangaroo issuer, but its 3 June return to the Australian dollar market broke new ground in more ways than one. The issuer shares its rationale for testing an unconventional format and the price discovery process it triggered – with final pricing to rival its home market.
ENBD taking IOIs for 10-year benchmark Kangaroo
ING Bank’s investor-focused approach delivers record senior deal
ING Bank Australia's latest dual-tranche deal is its largest transaction in senior format and was supported by a record breaking orderbook, driven by appetite from Australian asset managers and Asian accounts. Strategic timing, tight pricing and careful allocation reflect the bank's deepening market presence and growing regional investor base.
