Council of Europe Sells $291 Million of Kangaroo Bonds in Near Record Year

Council of Europe Development Bank raised A$300 million ($291 million) from Kangaroo bonds due in October 2020 as sales of the securities head for a record year.

The 6 percent notes were priced to yield 6.095 percent, or 1.04 percentage point more than similar-maturity government debt, according to an e-mailed statement from RBC Capital Markets, which helped manage the transaction with Commonwealth Bank of Australia and UBS AG.

Companies and supranational agencies have sold A$31 billion of Kangaroo bonds in Australia this year, and are on track to top the record A$32.4 billion raised in 2006, according to data compiled by Bloomberg. Council of Europe’s Australian dollar bonds are the Paris-based lender’s first Kangaroo notes since April, the data show.

To contact the reporters on this story: Sarah McDonald at smcdonald23@bloomberg.net Lisa Pham in Sydney at lpham14@bloomberg.net

To contact the editor responsible for this story: Will McSheehy at wmcsheehy@bloomberg.net

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