Asian Development Bank ADB

Asian Development Bank launched a NZ$150m ($119.41) 3.375% five year Kauri bond last night; its first issue in the currency since January 2010. However, even this safe haven issuer is unlikely to spark a wider spate of Kauri issuance, said bankers.

The Kangaroo market is set to host a streak of deals from Washington supranationals as soon as next week. With these borrowers having just entered a new financial year, SSA supply having bounced back in the last two weeks and Kangaroo investors desperate to buy lower-yielding but safer assets detached from Europe, rumoured issuers including the International Financial Corp and the World Bank are primed for success if and when they decide to print Australian dollar paper.