KfW sells A$300m Kangaroo but non-core deals dwindle
KfW sold a A$300m 10 year Kangaroo deal on Thursday, while Daimler Finance North America and Rabobank Nederland issued Australian dollar trades, but overall activity in non-core currencies was far lower than previous weeks.
The KfW deal, placed by RBC Capital Markets and TD Securities, pays a 6.25% coupon and was priced at 98.435.
Approximately 50% of the notes went to domestic investors.
The deal is the first primary market Kangaroo activity since November 17, despite a historically wide five year basis swap.
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