The largest SSA Kangaroo trade last week was market leader kfw's A$450m (US$342m) tap of its 2.80% February 17 2021 line to lift the issue size to A$1.25bn. Deutsche Bank and RBC Capital Markets were joint lead managers for the German government-guaranteed agency's latest reopening, priced at 102.695 for a 2.17% yield, or 61.5bp over the May 2021 ACGB. Fellow Triple A rated German agency Landeskreditbank Baden-Wuerttemberg-Foerderbank, or l-bank, opened a A$200m 2.25% February 17 2021 line on Friday, also with Deutsche Bank and RBC as arrangers, this time alongside CBA.
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