News
On 14 February, KfW Bankengruppe (KfW) (AAA/Aaa/AAA) increased its September 2026 Kangaroo bond. According to KangaNews data, KfW introduced its 2026 line in March last year for volume of A$200 million (US$152.9 million) at 58 basis points over swap. It has been subsequently increased four times, most recently for A$100 million at 54 basis points over swap in November.
Asian Development Bank (ADB) (AAA/Aaa/AAA) priced a tao to its January 2022 Kangaroo bond on 14 February. The transaction was upsized from A$200 million (US$153.3 million) minimum volume and priced in line with guidance of 40 basis points over semi-quarterly swap.
African Development Bank (AfDB) (AAA/Aaa) priced an increase to its July 2027 Kangaroo line on 14 February. Price guidance on the transaction was 51 basis points over semi-quarterly swap.
Toyota Finance Australia (TFA) (AA-/Aa3) mandated a new Australian dollar deal on February 13, to be issued off its EMTN programme. The forthcoming transaction has minimum volume of A$100 million (US$76.8 million) and tenor of five years.
On 13 February, Caterpillar Financial Services and Caterpillar Financial Australia (Caterpillar) (A/A3) revealed plans to meet fixed-income investors in Australia on 20 February. A capital markets transaction may follow, the meetings’ arrangers, ANZ and Westpac Institutional Bank, add.
The generally upbeat tone of most Australian dollar issuance sectors at the start of 2017 appears to extend to the securitisation market, according to the issuer and arranger of the first deal to price this year. Bank of Queensland (BOQ) doubled the size of the new residential mortgage-backed securities (RMBS) deal it issued on 9 February, to A$1 billion (US$763.7 million), having not issued a benchmark securitisation since September 2015.
Mirvac Group Finance (Mirvac) (BBB+/Baa1) launched and priced an increase to its September 2023 Australian dollar line on February 10. The A$50 million (US$38.1 million) increase adds to a line that was introduced in August last year for A$200 million at 182 basis points over semi-quarterly swap.