Kanga market to keep hopping after BAML print

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By Nathan Collins
28 Aug 2014

Bank of America Merrill Lynch built on a strong run in Australian dollars on Wednesday, drawing an oversubscribed order book for a 5.5 year print. The strength of demand for the deal — along with other recent deals from FIG issuers in the currency — suggests that appetite from domestic investors for further deals remains robust.

Supply from financials in the Kangaroo market has been light in 2014, particularly compared to strong issuance from public sector borrowers. BAML's oversubscribed order book suggests that further deals could also find success.

“The order book was very strong and suggests there’s more demand out there for bank ...

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