Aussie blackouts open door for BPCE Kangaroo debut

By Nathan Collins
10 Apr 2014

French lender BPCE is set to sell its debut Kangaroo bond on Friday in what will also be its first foray to the public Aussie dollar market. The issuer is likely to benefit from a lack of competing supply from Australian lenders and good recent demand for European banks.

ANZ, National Australia Bank and Natixis are offering guidance on the minimum A$150m ($140.5m) four year bonds at 120bp over swaps.

“It’s doing all right so far,” said a syndicate banker involved in the deal. “It was launched pretty late in the Australian day so it hasn’t had ...

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