Tuesday 27 June 2017 by FIIG Research New issues list

New Issues

New issues for the period 21 June 2017 – 27 June 2017 including: Auswide Bank, Kommunalbanken Norway, Landesbank Baden-Wurttemburg, Police Bank and Teacher’s Mutual Bank

Auswide Bank (Auswide)

Auswide launched its latest Australian dollar denominated residential mortgage backed securities deal, Trust 2017-1, on 23 June. Total deal volume is set at A$300m.



Kommunalbanken Norway 
(KBN)

KBN priced an increase to its December 2026 kangaroo bond on 21 June 2017.

Volume: A$50m
Outstanding volume in this line: A$360m
Coupon type: fixed
Coupon rate: 3%
Issue/re offer price: 98.596% (plus 0.156% accrued)
Issue yield: 3.173%
Margin to swap: 62bps
Margin to ACGB: 81.25bps/April 2026
Maturity date: 9 December 2026 

Landesbank Baden-Wurttemberg (LBBW)

LBBW issued A$300m in a new, Tier 2 euro medium term note (EMTN) on 22 June 2017.

Volume: A$300m
Outstanding volume in this line: A$300m
Coupon type: fixed
Coupon type: fixed
Coupon rate: 4.90%
Issue/re offer price: par
Issue yield: 4.90%
Margin to swap: 230bps
Maturity date: 29 June 2027 

Police Bank

Police Bank issued a new, one year floating rate note on 22 June 2017.

Volume: A$25m
Outstanding volume in this line: A$25m
Coupon type: floating rate note
Coupon rate: 3m BBSW +105bps
Issue/re offer price: par
Margin to swap: 105bps/3m BBSW
Maturity date: 29 June 2018 

Teachers Mutual Bank

Teachers Mutual Bank issued a new, three year floating rate note on 22 June 2017.

Volume: A$100m
Outstanding volume in this line: A$100m
Coupon type: floating rate note
Coupon rate: 3m BBSW +142bps
Issue/re offer price: par
Margin to swap: 142bps/3m BBSW
Maturity date: 29 June 2020

 

Source: KangaNews/FIIG Securities

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