SSAs open long end Kanga taps

By Frank Jackman
27 Aug 2019

A trio of European agencies and a supranational all priced taps at the long end of the Kangaroo curve last week, with tenures ranging from nine to 12 years. Yields on these notes have fallen compared to previous taps, as the Kangaroo market feels the effects of the global bond rally.

“Australia is not immune from the global bond rally,” said one SSA banker.

German agency Rentenbank reopened its 3.2% May 2029 on Tuesday to raise A$200m ($135.3m) of new debt, bringing the amount outstanding on the line to A$450m.

Rentenbank’s May 2029 line was launched in June ...

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