News
The European Investment Bank (EIB) (AAA/Aaa/AAA) launched its fifth Kangaroo transaction of 2010 on April 15, announcing plans to sell a minimum of A$400 million (US$373.9 million) in an increase to its seven-year line. The deal will bring the outstanding size of the line to at least A$2 billion, making it the issuer's fifth bond of that size in the Australian market.
The third new benchmark line to be issued by New South Wales Treasury Corporation (TCorp) (AAA/Aaa/AAA) as part of the first two stages of its exit strategy from the Commonwealth government guarantee was launched on April 14. The new May 2020 line, which has a minimum size at launch of A$1 billion (US$928.6 million) was originally expected to price last month.
On April 12 the World Bank (AAA/Aaa/AAA) launched an increase to its November 2016 and October 2019 Kangaroo lines. The transaction, which will price on or before April 14, will be the first time the World Bank has tapped a Kangaroo bond since it last added to its debut issue in January 2000. That line, which was increased twice following initial pricing in 1999, matured in 2003.
Dexus Property Group (Dexus) (BBB+/Baa1) will become the first true corporate borrower to issue a second new domestic bond line since the financial crisis when it prices the new April 2017 deal it launched on April 12. The transaction launched alongside a matching buyback of a minimum of A$100 million (US$93.4 million) of the issuer's outstanding February 2011 bonds.