Tuesday 29 September 2015 by FIIG Research New issues list

New issues

New issues for the period 23 - 29 September including: Axsesstoday's announcement of the launch of a new floating rate note transaction with FIIG as the lead manager and more

Axsesstoday (Axsess)

Axsess announced the launch of a new A$20m floating rate note transaction on 25 September, priced at 650 bps over the 3 month Bank Bill Swap Rate (BBSW). FIIG is the lead manager for the deal – available to wholesale investors only.

EUROFIMA

On 29 September, EUROFIMA added A$50m to its existing 2025 fixed rate bond line.

Total outstanding in this line: A$320m
Coupon rate: 3.9%
Issue yield: 3.3225%
Maturity date: 19 December 2025

Lloyds Bank

Lloyds Bank has tapped its existing 2025 fixed rate bond line, adding A$150m to the line on 24 September.

Total outstanding in this line: A$300m
Coupon rate: 4.25%
Issue yield: 4.3075%
Maturity date: 28 August 2025

Municipality Finance (Munifin)

On 24 September, Munifin priced an A$25m increase to its existing 2026 fixed rate bond line.

Total outstanding in this line: A$125m
Coupon rate: 3.5%
Issue yield: 3.330%
Maturity date: 4 February 2026

People’s Choice Credit Union (People’s Choice)

On 24 September, People’s Choice priced a new residential mortgage backed securities (RMBS) issue, Light Trust No.6. The issue is spread across six tranches with a total volume of A$500m.  


 
Light Trust No.6

Class A1 Class A2 Class AB Class B  Class C Class D
Volume A$460m A$16.5m A$9.0m A$10.75m A$3.05m A$0.7m
WAL 2.9 years 2.9 years 6.0 years 6.0 years  6.0 years 6.0 years
Margin to swap 1m BBSW+105bps 1m BBSW+115bps 1m BBSW+200bps 1m BBSW+250bps  1m BBSW+325bps 1m BBSW+550bps

QBE Insurance Group (QBE)

On 22 September, QBE priced a new floating rate note transaction at 400bps over 3 month BBSW.

Volume: A$200m Coupon rate: 3m BBSW + 400bps
Issue/reoffer price: par
Maturity date: 29 September 2040
First call date: 29 September 2020

*Please note that FIIG may not trade in the above securities, contact your FIIG Representative for more information.

Source: KangaNews, FIIG Securities

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