TD Securities
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The province of Quebec issued a A$75m ($57.3m) tap to its May 2026 Kangaroo bond, taking the total outstanding to A$435m. -
Another three SSA dollar deals hit screens on Thursday, all living up to the high standards set by a multitude of predecessors this week.
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KfW paved the way for a slew of dollar mandates from SSA borrowers on Tuesday with a $5bn new issue.
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KfW announced plans on Monday to return to the dollar market with a new three year benchmark.
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With the hree new issues in the market this week progressing well, the SSA market seems to have put Brexit chaos in the past and returned to business as usual.
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KfW found enough demand to print a A$400m ($299.2m) tap of its January 2019 Kangaroo bond late last week, highlighting a remarkable return to stability for markets after the previous week's Brexit vote.
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The African Development Bank printed an A$60m ($44m) tap of its June 2026 notes on Wednesday, as bankers predicted more Kangaroo issuance will follow this week.
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The Province of Manitoba sold a 10 year dollar bond on Tuesday, taking advantage of a good window despite the impending Fed rates decision on Wednesday.
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Sponsored TD SecuritiesWith yields across much of the developed world entrapped in an apparently endless downward spiral, investor attention is once again focusing on the potential of emerging market (EM) debt. Cristian Maggio, global head of emerging markets strategy at TD Securities, explains that it is not just the relatively high yields available in the asset class that is attracting renewed investor interest. Following a lengthy period of underperformance, there are several compelling drivers of rising investor confidence in the longer term prospects for EM.
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