Inter-American Development Bank IADB

A lack shortage of supply in secondary is driving investors into private placement markets. Washington supranationals raised funds through innovative methods this week, including Uridashi and private placements in unfamiliar currencies.

The Inter-American Development Bank (IADB) sustained the flurry of SSA Kangaroo supply of the last month when it priced a A$200m ($211.3m) tap of its 2022s on Friday last week.

Inter-American Development Bank took advantage of an uptick in dollar swap levels to print a 30 year dollar global on Tuesday evening.

The Inter-American Development Bank (IADB) got into the Kangaroo market early on Friday when it priced a A$200m no grow 3.75% 10 year stealth issue ahead of what is expected to be a busy week of issuance in the sector.

The Kangaroo market is set to host a streak of deals from Washington supranationals as soon as next week. With these borrowers having just entered a new financial year, SSA supply having bounced back in the last two weeks and Kangaroo investors desperate to buy lower-yielding but safer assets detached from Europe, rumoured issuers including the International Financial Corp and the World Bank are primed for success if and when they decide to print Australian dollar paper.

While the Kangaroo market awaits a much-rumoured return of Washington supranationals as soon as next week spurred by the Asian Development Bank’s A$1.1bn ($1.1bn) blowout priced on June 26, KfW once again proved to be one of the most resilient Kangaroo borrowers when it priced a A$300m tap of its 6% 2016s on Wednesday.