On June 9 KfW Bankengruppe (KfW) (AAA/Aaa/AAA) was the first issuer to bring a Kangaroo deal in over five weeks when it priced a A$250 million (US$209.4 million) tap of its May 2015 bond. And although the funding cost of the latest Kangaroo deal ended up being on a par with the German agency's global funding level target, Klaus-Peter Eitel, vice president in capital markets at KfW in Frankfurt, highlights the difference between funding in the euro market and the US dollar and Australian dollar markets.