News
The Kangaroo market sprang into life early in the first full week of January, with seven new deals from supranational, sovereign and agency borrowers. Meanwhile, Nordic Investment Bank reopened the Kauri market with a jumbo five-year tap to its 2020 line.
On January 9, European Investment Bank (EIB) (AAA/Aaa/AAA) priced an increase to its May 2018 Kangaroo line. This was the sixth Kangaroo transaction to be mandated during the first full week of 2015, and the fifth to come from a supranational, sovereign and agency borrower.
Asian Development Bank (ADB) (AAA/Aaa) priced a dual-tranche deal in the Australian market on January 9, introducing a new five-year benchmark while also taking the opportunity to top up its 2025 Kangaroo.
On January 7, Rentenbank (AAA/Aaa/AAA) launched and priced an increase to its January 2025 Kangaroo line in Australia's second new deal of 2015.
On January 7, KfW Bankengruppe (KfW) (AAA/Aaa/AAA) priced a new transaction in the Australian market. The new 5.25-year Kangaroo bond opened the Australian market for 2015.
On January 7, International Finance Corporation (IFC) (AAA/Aaa) mandated an increase to its July 2019 Kangaroo in Australia's third transaction mandate of 2015.
Deal flow all but ground to a halt during the week under review as market participants prepared to head out for the holidays. Meanwhile, half-year financial and economic review data show a few wobbles in Australia but resilience in New Zealand. *This will be the final KangaNews deal and ratings review for 2014 and the next one will be published on January 9 2015. This will include any deal or ratings activity that occurs before then. In the meantime, KangaNews wishes all its readers the very best for the festive season.*