Barclays returned to the Australian dollar market this week for its second Kangaroo, placing a triple tranche trade that was four times covered. The demand for Kangaroo paper could see more issuers follow Barclays, according to one DCM banker.
The demand for this trade “demonstrates strength of market,” said the DCM banker. “These excellent results will have other global borrowers looking at the market and in particular the strong domestic presence.”
“SSAs have already been quite active [in Australian dollars] this year,” said the banker. “We have