Tuesday 21 November 2017 by FIIG Research New issues list

New Issues

New issues for the period 15 November – 21 November 2017 including: CCB, Challenger, CBA, KBN, Latitude, Lloyds, ME Bank, Mercedes, NWB, QMS, Toyota, Westpac

China Construction Bank Sydney Branch (CCB)

CCB issued a new, $400m domestic bond on 15 November 2017.

Volume: A$400m
Total outstanding in the line: A$400m
Coupon type: FRN
Coupon rate: 3m BBSW + 95bps
Issue/re-offer price: par
Margin to swap: 95bps/3m BBSW
Maturity date: 24 November 2020

Challenger Life Company (Challenger)

Challenger issued a new, $400m domestic Tier 2 bond on 16 November 2017.

Volume: A$400m
Total outstanding in this line: A$400m
Coupon type: FRN
Coupon rate: 3m BBSW +210bps
Issue/re-offer price: par
Margin to swap: 210bps/3m BBSW
Maturity date: 24 November 2042

Commonwealth Bank of Australia (CBA)

CBA issued a new, A$2.65bn residential mortgage backed securities transaction on 17 November 2017. 

Kommunalbanken Norway (KBN)

KBN priced an increase to its 2032 kangaroo bond on 15 November 2017.

Volume: A$70m
Total outstanding in the line: A$120m
Coupon type: fixed
Coupon rate: 3.74%
Issue/re-offer price: 102.545%
Issue yield: 3.51%
Margin to swap: 63.5bps/s-q
Margin to ACGB: 83.25bps/April 2029
Maturity date: 19 January 2032

Latitude Finance Australia (Latitude)

Latitude issued a new, $651m debut public personal loan asset backed security on 17 November 2017.

Lloyds Banking Group (Lloyds)

Lloyds issued a new, $450m ten year kangaroo bond on 15 November 2017.

Volume: A$450m
Total outstanding in the line: A$450m
Coupon type: fixed
Coupon rate: 4.25%
Issue/re-offer price: 99.116%
Issue yield: 4.36%
Margin to swap: 167bps/s-q
Maturity date: 22 November 2027

ME Bank

ME Bank issued a new, $200m perpetual AT1 bond on 16 November 2017.

Volume: A$200m
Total outstanding in this line: A$200m
Coupon type: FRN
Coupon rate: 3m BBSW +525bps
Issue/re-offer price: par
Margin to swap: 525bps/3m BBSW
Call date: 28 November 2022

Mercedes-Benz Australia (Mercedes)

Mercedes issued a new, A$100m euro medium term note on 15 November 2017.

Volume: A$100m
Total outstanding in the line: A$100m
Coupon type: fixed
Coupon rate: 2.625%
Issue/re-offer price: 99.813%
Issue yield: 2.691%
Margin to swap: 60bps/s-q
Maturity date: 24 November 2020

NWB Bank (NWB)

NWB priced an increase to its 2027 kangaroo bond on 13 November 2017.

Volume: A$30m
Total outstanding in this line: A$505m
Coupon type: fixed
Coupon rate: 3.5%
Issue/re-offer price: 101.64%
Issue yield: 3.3%
Margin to swap: 63bps/s-q
Margin to ACGB: 73bps/April 2027
Maturity date: 20 July 2027

QMS Media (QMS)

QMS issued a new, $70m five year domestic bond on 15 November 2017.

Volume: A$70m
Total outstanding in the line: A$70m
Coupon type: fixed
Coupon rate: 7%
Issue/re-offer price: par
Issue yield: 7%
Margin to swap: ND
Maturity date: 21 November 2022

Toyota Finance Australia (Toyota)

Toyota issued a new, A$150m five year euro medium term note on 14 November 2017.

Volume: A$150m
Total outstanding in the line: A$150m
Coupon type: fixed
Coupon rate: 2.875%
Issue/re-offer price: 99.523%
Issue yield: 2.979%
Margin to swap: 70bps/s-q
Maturity date: 21 November 2022

Westpac Banking Corporation (Westpac)

Westpac priced an increase to its floating rate note on 17 November 2017.

Volume: A$150m
Total outstanding in the line: A$3.05bn
Coupon type: FRN
Coupon rate: 3m BBSW + 108bps
Issue/re-offer price: 101.495% (plus 0.175% accrued)
Margin to swap: 55bps/3m BBSW
Maturity date: 28 October 2020

Source: KangaNews

 

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