Handelsbanken Kangaroo lands at decade tight spread

Australia_AdobeStock_575x375_22Feb21
By Frank Jackman
25 Feb 2021

Svenska Handelsbanken returned to the Kangaroo market this week to print a five year preferred senior deal at a decade tight level, as the long-term absence of funding from the Aussie market's major domestic banks drives down senior spreads.

The Swedish firm (Aa2/AA-/AA) set out to print a five year senior preferred Kangaroo benchmark with fixed and/or floating rate legs.

National Australia Bank, TD Securities, UBS and Westpac kicked off the sale on Wednesday with initial price thoughts of 50bp area over semi-quarterly asset ...

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