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Wednesday 30 January 2019 by Facilitation Trade opportunities

New Issues - w/e 25 January 2019

New issues for the week ending Friday 25 January 2019, including: BNG Bank, CEB, EDC, KFW, Munifin, NTTC, Alberta, Manitoba

BNG Bank (BNG)

BNG Bank prices A$25 million 10.5-year ‘renewable energy’ Kangaroo bond
Volume: A$25m
Total outstanding in the line: A$25m
Coupon type: fixed
Coupon rate: 2.95%
Issue/re-offer price: 99.713%
Issue yield: 2.982%
Margin to swap: 51bps/s-q
Margin to ACGB: 69.5bps/April 2029
Maturity date: 31 July 2029

Council of Europe Development Bank (CEB)
CEB prints new A$50 million 10.5-year Kangaroo bond
Volume: A$50m
Total outstanding in the line: A$50m
Coupon type: fixed
Coupon rate: 2.9%
Issue/re-offer price: 2.96%
Issue yield: 99.462%
Margin to swap: 49bps/s-q
Margin to ACGB: 67.5bps/April 2029
Maturity date: 1 August 2029

KfW Bankengruppe (KFW)
'KFW prices A$300 million March 2024 Kangaroo tap
Volume: A$300m
Total outstanding in the line: A$2bn
Coupon type: fixed
Coupon rate: 5%
Issue/re-offer price: 112.335%'
Issue yield: 2.4275%
Margin to swap: 42bps/s-q
Margin to ACGB: 49.5bps/April 2024
Maturity date: 19 March 2024

Municipality Finance (Munifin)
Munifin prices A$20 million 10.5-year Kangaroo deal
Volume: A$20m
Total outstanding in the line: A$20m
Coupon type: fixed
Coupon rate: 2.9%
Issue/re-offer price: 99.677%
Issue yield: 2.936%
Margin to swap: 47bps/s-q
Margin to ACGB: 65.1bps/April 2029
Maturity date: 1 August 2029

Northern Territory Treasury Corporation (NTTC)
NTTC prints A$600 million in new April 2027 benchmark bondVolume: A$600
Total outstanding in the line: A$600m
Coupon type: fixed
Coupon rate: 2.75%
Issue/re-offer price: 98.403% (plus 0.771% accrued)
Issue yield: 2.97%
Margin to EFP: 67bps
Margin to ACGB: 75.75bps/April 2027
Maturity date: 21 April 2027

Province of Alberta (Alberta)
Alberta prices A$50 million increase to April 2028 Kangaroo
Volume: A$50m
Total outstanding in the line: A$460m
Coupon type: fixed
Coupon rate: 3.6%
Issue/re-offer price: 104.802%
Issue yield: 2.9975%
Margin to swap: 64bps/s-q
Margin to ACGB: 72.5bps/May 2028
Maturity date: 11 April 2028

Province of Manitoba (Manitoba)
Manitoba adds A$30 million to August 2028 Kangaroo
Volume: A$30m
Total outstanding in the line: A$225m
Coupon type: fixed
Coupon rate: 3.5%
Issue/re-offer price: 104.065%
Issue yield: 3.0075%
Margin to swap: 61bps/s-q
Margin to ACGB: 71bps/May 2028
Maturity date: 22 August 2028

Source: KangaNews

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