Following a series of investor meetings undertaken earlier this month, Rabobank Nederland (A+/Aa2/AA-) priced a new Australian dollar tier-two notes issue on June 25. The new deal, which comprises both fixed- and floating-rate notes, is the first such issue in the Kangaroo market since Wachovia Bank priced A$400 million (US$309.6 million) of 10-year bullet subordinated bonds in May 2007.