Latest News
Export Development Canada (EDC) (AAA/Aaa) priced a A$475 million (US$360.7 million) increase to its June 2021 Kangaroo transaction on January 25. The tap issue priced in line with guidance of 46 basis points over semi-quarterly swap. According to KangaNews data, the line was introduced in May last year for volume of A$300 millionand pricing of 64.5 basis points over Australian Commonwealth government bond.
On January 24, European Investment Bank (EIB) added A$150 million (US$113.9 million) to its August 2026 Kangaroo bond. The tap priced flat to initial guidance of 60 basis points over semi-quarterly swap. According to KangaNews data, the line was introduced in February last year for volume of A$150 million and pricing of 52 basis points over semi-quarterly swap. The bond was most recently tapped in November last year by A$100 million. This transaction priced at 59 basis points over semi-quarterly swap.
On January 24, KommuneKredit (AAA/Aaa) priced an increase to its November 2026 Kangaroo bond. According to KangaNews data, the line was most recently tapped on January 6 for volume of A$70 million (US$53.2 million). This transaction priced at 72 basis points over semi-quarterly swap.
On January 24, Suncorp-Metway (Suncorp) revealed plans to engage with investors in relation to its Apollo residential mortgage-backed securities (RMBS) programme. According to KangaNews data, Suncorp was most recently in the RMBS market in February 2015 when it printed A$1.25 billion (US$947.4 million) in Apollo Series 2015-1 Trust. The largest, A$1.15 billion class-A tranche, priced at 90 basis points over bank bill swap rate for a weighted-average life of 3.1 years.
On January 23, Oesterreichische Kontrollbank (OKB) (AA+/Aa1) priced a new August 2027 Kangaroo transaction. The deal priced flat to initial guidance of 68 basis points over semi-quarterly swap. According to KangaNews data, OKB was most recently in the Kangaroo market in March last year when it added A$50 million (US$37.8 million) to its August 2025 line.
On January 23, Rentenbank (AAA/Aaa/AAA) priced a A$50 million (US$37.8 million) increase to its March 2027 Kangaroo line. The tap issue priced in line with guidance of 55 basis points over semi-quarterly swap.
Westpac Banking Corporation (Westpac)'s (AA-/Aa2/AA-) new five-year domestic deal priced on January 20, with final pricing in line with initial guidance of 111 basis points over three-month bank bill swap rate (BBSW) and semi-quarterly swap.
The Australian Office of Financial Management printed A$9.3 billion (US$7.04 billion) in the Australian market's largest-ever deal this week. Elsewhere, Kauri market activity picked up with World Bank placing NZ$550 million (US$396.2 million) in its first Kauri deal of the year and Kommunalbanken Norway adding NZ$150 million to its August 2025 New Zealand dollar bond.
KfW Bankengruppe (KfW) (AAA/Aaa/AAA) added A$200 million (US$151.4 million) to its June 2022 maturity Kangaroo bond on January 20. The Nomura-led tap added to the A$350 million already on issue in the line.
Kommunalbanken Norway (KBN) (AAA/Aaa) printed NZ$150 million (US$108.2 million) - upsized from a launch volume of A$50 million - in an increase to its August 2025 Kauri bond on January 20. The tap issue priced flat to intial guidance of 85 basis points over mid-swap. According to KangaNews data, the line was introduced in August 2015 for volume of NZ$125 million and pricing of 45 basis points over mid-swap. It was most recently tapped in September 2015 for A$50 million at 46 basis points over mid-swap.
In the wake of its largest syndication ever and with a marginally increased funding task following the Commonwealth mid-year economic and fiscal outlook (MYEFO), the Australian Office of Financial Management (AOFM) says Australian dollar market capacity is sufficient to meet its issuance requirement. The sovereign debt management agency is, however, adapting elements of its issuance strategy to cope with the volume it needs to issue.