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Svenska Handelsbanken printed its largest-ever Kangaroo transaction on 21 February, adding to the record volume of Kangaroo issuance at the start of the new year. The borrower says it was overwhelmed with the reception it received from investors, which led it to take more volume from the market than anticipated.

Coming off the back of difficult issuance conditions and narrow demand in 2022, the Australian securitisation market that met the new year’s first wave of deals provided more positive transaction outcomes. Investors’ willingness to put cash to work in the first two months of the year extended to the structured finance asset class, deal sources say, although there is an ongoing tone of caution about the year ahead.