The Asian Development Bank (ADB) hit screens on Monday morning with initial price thoughts for a new 10 year green Kangaroo bond. The trade follows a busy week for SSA Kangaroo issuance at the long end of the curve, driven by Japanese demand according to one banker.
The new trade was launched on Monday, with pricing expected during the day on Tuesday. Joint bookrunners Deutsche Bank, Mizuho and RBC Capital Markets posted initial price thoughts of 43bp over mid-swaps, equivalent to 54.25bp over Australian government bonds.
The supranational is looking to raise a