JP suggests possibility of Kanga return for US banks

25 Oct 2012

JP Morgan is set to price a A$900m dual tranche Kangaroo bond, its first public trade in the currency this year, in a self led transaction that syndicate bankers are hoping will mark the end of a fallow period of Kangaroo issuance from US banks.

The first tranche is a A$450m 4.65% November 2017 note, expected to be priced at 140bp over mid-swaps.

The second is A$450m November 2017 floater, carrying a coupon of 140bp over the quarterly BBSW rate.

“Given the tightening we’ve seen over the year in the US dollar market, it’s great ...

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