Glencore raises Kangaroo hopes

摘要

The stalled corporate Kangaroo bond market may soon receive a welcome lift, if Anglo-Swiss mining giant glencore translates its recent Australian investor roadshow into an inaugural Australian dollar transaction. The Kangaroo market has been on fire this year, with more than 130 public new issues or reopenings raising more than A$26bn (US$24.4bn). The volume is almost double the A$14bn supply at this time last year and just shy of 2013's A$27.1bn total. However, it is regular supranational and agency visitors that have dominated the primary market, selling a combined A$17.5bn. Most of the remaining A$5.8bn has come from international banks, with only one overseas corporation issuing Kangaroos so far in 2014.