Pricing improvement lures EIB but Kangaroo challenges remain

Following the pricing of its first Kangaroo transaction of 2012 on February 23, the European Investment Bank (EIB) (AAA/Aaa/AAA) tells KangaNews that improved pricing margins enabled it to return to a market it had not tapped since June last year. Conditions remain difficult in the supranational, sovereign and agency (SSA) Kangaroo market, however, with a relatively narrow buyer base and derivatives challenges chief among the lingering issues.