News

International Finance Corporation (IFC) (AAA/Aaa) mandated an increase to its February 2021-maturity Kangaroo bond on July 5. According to KangaNews data, this line was introduced in July last year for volume of A$300 million (US$225.7 million) and pricing of 24 basis points over semi-quarterly swap. It was increased most recently in March this year by a further A$150 million at 47 basis points over semi-quarterly swap.

In the wake of the first benchmark-sized Australian dollar transaction to price following the Brexit referendum decision, KfW Bankengruppe (KfW) commends markets, including Australia, for an ability to plough ahead despite event risk. KfW says it has no cause to deviate from its funding plans – though the situation in Europe may bring Australia even more into focus.

Perhaps surprisingly, Australian deal flow quickly regained momentum despite wider uncertainty in the wake of Brexit. There were 10 Kangaroo deals pricing during the last week of June, most notably from KfW Bankengruppe, which added A$400 million (US$298.3 million) to its January 2019 line.

On July 1, KfW Bankengruppe (KfW) (AAA/Aaa) priced an increase to its January 2019 Kangaroo bond. According to KangaNews data, the line was introduced in January 2014 for volume of A$700 million (US$521.4 million) at 32 basis points over semi-quarterly swap. It has now been subsequently tapped four times. Previous to the July 1 tap the line was increased in February this year for volume of A$200 million at 42 basis points over swap.