Tuesday 03 November 2015 by FIIG Research New issues list

New issues

New issues for the period 27 October - 3 November including: new floating rate note transactions from Bank of America, NAB and Swedbank 

Australia Pacific Airports Corporation (Melbourne Airport)

On 2 November, Melbourne Airport priced a new fixed rate bond line.

Volume: A$120m
Coupon rate: 4.55%
Margin to swap: ND
Maturity date: 11 November 2025

Bank of America Australian Branch (BoA)

On 27 October, BoA priced a new floating rate note transaction at 110 basis points (bps) over the 3 month Bank Bill Swap Rate (3m BBSW).

Volume: A$850m
Coupon rate: 3m BBSW +110bps
Issue/re-offer price: par
Maturity date: 5 November 2018

National Australia Bank (NAB)

On 30 October, NAB priced a new five year floating rate note transaction at 108bps over 3m BBSW.

Volume: A$2.1bn
Coupon rate: 3m BBSW +108bps
Issue/re-offer price: par
Maturity date: 5 November 2020

Pepper Residential Securities Trust No.15

On 29 October, Pepper Group priced a new residential mortgage backed securities (RMBS) deal with a total volume of A$300m. The deal is spread across nine tranches.  

Pepper Residential Securities Trust No.15

Class A1-s1 A1-a A2 B C D E F G
Volume A$110m A$100m A$36.5m A$29.5m A$5.1m A$0.375m A$3.9m A$3.6m A$5.4m
WAL 1 year 2.2 years 2.2 years 4 years  4 years 5.6 years  3.7 years 2.8 years  5 years 
Margin to swap 1m BBSW+
65bps
1m BBSW
+130bps
1m BBSW
+155bps
1m BBSW
+250bps
ND ND ND ND ND
  

Queensland Treasury Corporation (QTC)

On 27 October, QTC priced a new fixed rate transaction at 63 bps over the Australian Commonwealth Government Bond (ACGB).

Volume: A$1.75bn
Coupon rate: 3.25%
Issue yield: 3.33%
Maturity date: 21 July 2026

Swedbank

On 28 October, Swedbank priced a new floating rate transaction at 115bps over 3m BBSW.

Volume: A$325m
Coupon rate: 3m BBSW +115bps
Issue/re-offer price: par
Maturity date: 5 November 2018

The issuer returned to market shortly after, with a new fixed rate transaction priced at 145 bps over the semi-quarterly swap rate (s-q).

Volume: A$66.5m
Coupon rate: 4%
Issue yield: 4.2175%
Maturity date: November 5 2025

*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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