Auckland Council significantly increased the volume of its latest Kangaroo transaction, offering benchmark size in a more widely distributed transaction for the first time. The issuer says it hopes to expand its Australian dollar investor base over time, with the issuer motivation originating in a larger funding task.

Changing views on relative global central bank direction have created an unusual dynamic in the euro swap curve. This technical backdrop provided ANZ an opportunity to achieve the rarity of pricing in a euro senior deal that landed inside the issuer’s Australian dollar curve.

Significantly improved conditions allowed AusNet to execute its Australian dollar market return on an accelerated timeline compared with its 2023 transaction. The outcome aligned with the issuer’s expectations on price and volume, and secured its funding requirements for the year.