Banks busy in Kangaroos

Kanga_fotolia_230x150
By Frank Jackman
27 May 2020

Banks are bounding back into the Kangaroo market. On Wednesday, BNP Paribas jumped in to sell the first syndicated Australian dollar senior non-preferred deal since the start of the Covid-19 crisis, later that day the Bank of Nova Scotia announced plans to join the fray with a mandate for a three year bail-inable deal.

On Tuesday, BPCE sold A$650m ($428.8m) of non-bail-inable Kangaroo debt while earlier this month UBS, Credit Suisse and Macquarie sold domestic deals.

“As the market comes back from hiatus and gets into deal mode, a competitive bid tone develops,” said the banker. “Given the momentum ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial