News
African Development Bank (AfDB) (AAA/Aaa/AAA) launched a new July 2027 Kangaroo bond for minimum volume of A$50 million (US$37.3 million) on January 17. The transaction is being marketed at 51 basis points over semi-quarterly swap.
In the first nonfinancial domestic corporate deal of the year, Dexus Finance (Dexus) (A-/A3) printed a A$75.5 million (US$56.3 million) increase to its November 2025 bond on January 12. The transaction priced flat to guidance of 160 basis points over semi-quarterly swap.
On January 12, Asian Development Bank (ADB) added A$125 million (US$93.2 million) - upszied from A$100 million - to its 2026 line. The tap priced flat to launch guidance of 49 basis points over semi-quarterly swap.
On January 16, Royal Bank of Canada Sydney Branch (RBC Sydney) (AA-/Aa3) printed A$525 million (US$392.4 million) in a new, one-year benchmark transaction. The issuer's first deal of 2017 priced flat to intial guidance of 55 basis points over three-month bank bill swap rate (BBSW).
National Australia Bank (NAB) printed A$275 million (US$204.7 million) in a new Australian dollar tier-two deal on January 12. Final pricing came in 10 basis points tighter against initial guidance of 230 basis points over semi-quarterly swap. The 15-year non-call 10 transaction was issued off NAB's GMTN programme and was targeted at offshore investors.
On January 12, NWB Bank (AAA/Aaa) printed a new 2027-maturity Kangaroo transaction. Final pricing came in at 74 basis points over semi-quarterly swap - the same level as initial guidance. According to KangaNews data, NWB Bank was most recently in the Kangaroo market in October last year when it added A$115 million to its September 2026 Kangaroo bond. This transaction priced at 75 basis points over semi-quarterly swap.
EUROFIMA (AA+/Aa1) priced a tap to its January 2027 Kangaroo line late on January 12. The tap is EUROFIMA's first Kangaroo deal for 2017.
On January 13, Nordic Investment Bank (NIB) (AAA/Aaa) disclosed that it had priced an increase to its February 2026 Kangaroo bond. The transaction added to the A$345 million (US$258.5 million) already on issue in a line NIB originally introduced in July 2015.
KfW Bankengruppe (KfW) (AAA/Aaa/AAA) printed A$350 million (US$258.1 million) in a new long-five-year Kangaroo transaction on January 11. According to KangaNews data, KfW was most recently in the Kangaroo market in November last year when it printed A$100 million (US$73.5 million) of 10-year notes. This transaction priced at 54 basis points over semi-quarterly swap.
Kangaroo supranational, sovereign and agency deal activity took off in the second week of January with 10 transactions priced. Meanwhile, Commonwealth Bank of Australia netted A$2.65 billion in the first Australian domestic deal of the year and in New Zealand Rentenbank priced the first Kauri deal of 2017.
On January 13, Rentenbank printed NZ$75 million (US$53.4 million) – upsized from a launch volume of NZ$50 million – in the first Kauri transaction of the year. The Kauri market had a subdued end to 2016 as just one deal – also a tap of Rentenbank's 2024s, for NZ$75 million – priced after mid-August, according to KangaNews data.