KangaNews is proud to announce the winners of the institutional and deal categories in the KangaNews Awards 2024. At the end of a banner year in the Australian and New Zealand capital markets, KangaNews received votes from hundreds of market participants keen to recognise the achievements of 2024's most outstanding performers.

After a three-year hiatus from Australian dollar primary issuance, Barclays returned to the market to price its first tier-two trade in the currency, raising A$1 billion via a dual-tranche 10.5-year non-call 5.5-year deal. Deal sources say the outcome demonstrated that there is as yet no end in sight to Australian dollar investors’ appetite for the tier-two asset class – including from global banks.

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.

Issuance patterns in the supranational, sovereign and agency (SSA) Kangaroo market changed after the first few weeks of 2024, including a surge in deal flow from Canadian names that to some extent masks somewhat lower volume from longer-established names. Ahead of the market’s traditional busy period at the start of a new calendar year, intermediaries say they remain confident that the old guard will be as active as ever.