Wells Fargo deal likely to be followed by more Kangaroo FIs, leads say
- Friday, 18 January 2013
Conducive pricing, a positive market tone and a desire for diversity in Australian dollar investments are likely to prompt more international financial institutions (FIs) to follow Wells Fargo into the Australian market in the near future, the US bank's lead managers say. Wells Fargo priced A$900 million (US$949.2 million) in a new five-year Kangaroo issue on January 17, at a margin only just wider than domestic major bank issuance.
