The World Bank (International Bank for Reconstruction and Development, rated Aaa/AAA) increased its Kangaroo bond due February 2024 to a total amount of AUD 2.1 billion, with an AUD 800 million tap. This is the largest Australian dollar SSA (Supranationals, Sovereigns and Agencies) Kangaroo tap since 2016. The first tranche of the bond was issued in February this year, when it was heralded as the largest in nearly a decade. Responding to strong investor demand for safe haven assets, the World Bank announced the deal yesterday and quickly garnered diverse investor participation, both domestic and global. The joint ... (full story)