Tuesday 16 June 2015 by FIIG Research New issues list

New Issues

New issues from 10 June to 16 June 2015 including SCT Logistics with FIIG as the lead manager and full pricing on Pepper and BEN's RMBS deals

Bendigo and Adelaide Bank (BEN)

BEN has priced its first residential mortgage-backed securities (RMBS) of 2015 called, Torrens Series 2015-1 Trust. The deal has a total volume of 500m across six tranches.

Torrens Series 2015-1 Trust

 

Class A1

Class A2

Class B

Volume

A$460.0m

A$11.75m

A$17.50m

WAL

3.1 years

3.1 years

5.9 years

Margin to swap

92bp/1m BBSW

99bp/1m BBSW

230bp/1m BBSW

 

Class C

Class D

Class E

Volume

A$6.75m

A$1.75m

A$2.25m

WAL

5.9 years

5.9 years

5.9 years

Margin to swap

285bp/1m BBSW

400bp/1m BBSW

ND


Eurofima

On 11 June, the issuer priced a new fixed rate bond at 80.5bps over the Australian Commonwealth Government Bond (ACGB).

Volume: A$100m
Coupon rate: 3.9%
Issue yield: 3.9475%
Maturity date: 19 December 2025

Pepper Australia

Full pricing details for the issuers multicurrency RMBS deal were released on 10 June. The RMBS is across nine tranches and includes both USD and AUD denominations.

 Pepper Residential Securities Trust No.14

 

Class A1-u1

Class A1-a

Class A2

Volume

US$250m

A$61.0m

A$56.1m

WAL

1.0 years

2.3 years

2.3 years

Margin to swap

33bp/1m US Libor

105bp/1m BBSW

135bp/1m BBSW

 

Class B

Class C

Class D

Volume

A$53.9m

A$20.9m

A$11.0m

WAL

4.2 years

4.2 years

4.2 years

Margin to swap

200bp/1m BBSW

ND

ND

 

Class E

Class F

Class G

Volume

A$6.6m

A$8.2m

A$8.2 m

WAL

4.1 years

3.2 years

5.0 years

Margin to swap

ND

ND

ND


SCT Logistics (SCT)

Last Friday, SCT launched a new dual tranche deal: floating and fixed rate notes with FIIG as the lead manager.

Source: KangaNews, FIIG Securities

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