It seems that there will be a lot more international bank issuance taking place now, in the form of kangaroo issuance. This follows on from the success of the JP Morgan Chase and HSBC issues the week before last.Banco Santander (rated AA) and its subsidiary, Abbey National (AA), are both on the investor roadshow trail: Banco Santander met with investors last week and Abbey will be meeting investors this week. Banco Santander was reported as saying that if any issuance does follow the meetings, it will go first.Kangaroo issuance has been the mainstay of the market this year, accounting for 54 per cent of year-to-date issuance. This has allowed March to already set a monthly issuance record for this year at more than A$9 billion and puts year-to-date issuance at A$25 billion, ahead of the A$24.2 billion achieved at the end of the first quarter of 2009. Kangaroo issuance has also succeeded in bringing the five-year Australian dollar, US dollar basis swap back to around 30 basis points, from a peak of around 50 bps in early January.