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Browsing: kangaroo bond
NAIROBI, Kenya, Jun14 – The African Development Bank (AfDB) has unveiled a US$463.9 million 5.5-year Kangaroo bond.
In a statement, AfDB says the transaction, which marks its return to the Australian dollar bond market, was led by Nomura and RBC Capital Markets.
The fixed income instrument, which is a foreign bond issued in the Australian market by non-Australian firms and is denominated in Australian currency, is the institution’s first benchmark Kangaroo since early 2018 and its first in the mid-curve since 2015.
It is also the largest AUD trade ever issued by the Bank.
More than 30 investors participated in the deal, with a total order book of more than A$775 million, leading to an upsize of the trade from the announced size of A$250-300 million to the final size of A$600 million.
These included a strong cohort of Australian investors, while fund managers were the major investor type.
African …