News
Data on the maturity volume for various sectors of the Australian and New Zealand debt markets may provide only limited clues as to forthcoming issuance patterns, but it does shine a light on market development. In particular, issuance has tended to exceed maturities in most Australian dollar credit asset classes while New Zealand supply has lagged redemptions of late.
On 15 February, African Development Bank (AfDB) (AAA/Aaa) launched a minimum A$50 million (US$39.6 million) increase to its August 2028 Kangaroo bond, via Mizuho Securities and RBC Capital Markets. The forthcoming deal is being marketed at 44 basis points area over semi-quarterly swap and 50.25 basis points area over Australian Commonwealth government bond.
Province of Manitoba (Manitoba) (A/Aa2) launched a new, minimum A$50 million (US$39.6 million) 10.5-year Kangaroo bond on 15 February. The forthcoming transaction has indicative price guidance of 55 basis points area over semi-quarterly swap. Pricing is expected on the day of launch, according to lead manager Daiwa Capital Markets.
Province of Manitoba (Manitoba) (A+/Aa2) launched a minimum A$25 million (US$19.7 million) increase to its August 2027 Kangaroo bond on 14 February, via TD Securities. The forthcoming transaction is being marketed at 55 basis points area over semi-quarterly swap and 59 basis points area over Australian Commonwealth government bond. Pricing is expected on the day of launch.
