RBC taps bank demand with domestic Aussie debut
Royal Bank of Canada issued a three year Aussie dollar floater on Tuesday, selling the bonds through its Sydney branch. The bank has previously issued in Kangaroo format, but changed its tactics in order to secure stronger demand from Australian banks.
As the bonds were sold through RBC’s Sydney branch they are repo eligible, considered essential in drawing sizable demand from local banks. The bonds would not have been eligible for repo if sold in Kangaroo format.
For bank paper with a maturity of one year or more to
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