News
International Finance Corporation’s new three-and-a-half year Kangaroo print marks its first new line issued in the Australian market since November 2020. The deal also hints at improving conditions for supranational, sovereign and agency issuers in the Kangaroo market as the first deal of A$500 million (US$345.2 million) or more in the sector since June and just the second since February.
Primary market conditions continued to show signs of stability in Australia, with significant new issuance even in a traditionally relatively quiet time of year. There was a regular flow of supranational, sovereign and agency Kangaroo taps and a new benchmark deal from International Finance Corporation, while international banks provided the bulk of domestic credit supply.