ADB taps ultra-long end of Kanga curve

By Silas Brown
20 Jul 2017

Asian Development Bank added a A$60m ($47.7m) clip to its 15 year Australian dollar bond on Wednesday, as demand grows for Kangaroo paper beyond 10 years.

Lead Mizuhocirculated guidance of 45bp over mid-swaps for the 3.8% March 2032 notes on Tuesday morning, Sydney time, and the bond was priced in line with guidance on Wednesday morning. Asian and Japanese investors bought the bonds.

Asian demand for higher yields, as well as Japanese ...

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