European agencies hop into long end Kanga taps

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By Frank Jackman
29 Aug 2019

A pair of European agencies placed taps at the long end of the Kangaroo curve this week, printing at the nine and 12 year points. Yields on these notes have fallen compared to previous taps, as the Kangaroo market feels the effects of a 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 2018 ...

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