Australian dollar

International Finance Corporation introduced the Kauri market to green bonds on Thursday, after opening books on a socially responsible New Zealand dollar note with a NZ$100m ($75.2m) minimum size.

European Investment Bank launched a lengthy climate awareness bond in Kangaroo format on Monday, as appetite grows for green issuance in the Australian dollar bond market.

Asian Development Bank added a A$60m ($47.7m) clip to its 15 year Australian dollar bond on Wednesday, as demand grows for Kangaroo paper beyond 10 years.

Asian Development Bank opened proceedings on two Kangaroo taps on Monday.

The Inter-American Development Bank (IADB) raised A$100m ($76.1m) on Tuesday by tapping its June 2026 Australian dollar bonds. It was joined later in the week by Nederlandse Waterschapsbank (NWB), the International Finance Corporation (IFC) and the European Investment Bank, which launched a tap that is expected to be priced on Friday.

The Inter-American Development Bank raised A$100m ($76.1m) on Tuesday by tapping its June 2026 Australian dollar bonds, despite the remaining maturity falling short of where most long end Kangaroo demand resides. Meanwhile, Nederlandse Waterschapsbank responded to reverse enquiry, tapping its 3.5% July 2027 bonds for A$15m.

The Inter-American Development Bank is looking to tap its 4.25% June 2026 Australian dollar bonds, despite the remaining maturity falling short of where most long end Kangaroo demand resides.

Four European agencies, and a New Zealand sub-sovereign found funds in the Kangaroo market this week. Nederlandse Waterschapsbank (NWB) on Tuesday priced a 10 year tap of a Kangaroo bond some 10bp tighter than where the original issue priced in January. Bankers said the pricing was an indication of the sheer levels of demand for long dated Kangaroo paper.

Inter-American Development Bank launched a debut 15 year Kangaroo bond on Monday, the third supranational to look for ultra-long Australian dollar funding in the last year.

The Kangaroo market witnessed a flurry of deals this week as issuers dipped into an investor base starved of paper. The rush of deals follows a period of inactivity during which pricing –– compared with other niche currencies –– had been unfavourable, forcing issuers to wait until costs worked for them again.

The Nordic Investment Bank is raising funds in the middle of the Kangaroo curve, as a scarcity of mid-curve issuance allowed the leads to circulate tight pricing guidance.

The Province of Ontario on Monday tapped its longest dated Australian dollar bond for the sixth time this calendar year. Strong market conditions have opened more windows for the Canadian province to enter the Kangaroo market.