Tuesday 12 December 2017 by FIIG Research New issues list

New Issues

New issues for the period 5 December – 12 December 2017 including: AMP Bank, ANZ, ETSA Utilities, L-Bank, Macquarie, NIB, Pepper, Province of Alberta, Qudos Mutual, Rentenbank, SAFA, Think Tank and Vodafone

AMP Bank (AMP)

AMP issued a new, A$1.1bn residential mortgage backed securities transaction, Progress 2017-2, on 7 December 2017. 

ANZ Banking Group (ANZ)

ANZ priced an increase to its 2021 floating rate note on 12 December 2017.

Volume: A$250m
Total outstanding in the line: A$2.65bn
Coupon type: FRN
Coupon rate: 3m BBSW +118bps
Issue/re-offer price: 101.738% (plus 0.551% accrued)
Margin to swap: 63bps/3m BBSW

Maturity date: 7 April 2021

ETSA Utilities Finance (ETSA)

ETSA issued a new, A$100m six year floating rate note on 6 December 2017.

Volume: A$100m
Total outstanding in the line: A$100m
Coupon type: FRN
Coupon rate: 3m BBSW +104bps
Issue/re-offer price: par
Margin to swap: 104bps/3m BBSW
Maturity date: 13 December 2023



L-Bank

L-Bank issued a new, A$100m kangaroo bond on 8 December 2017.

Volume: A$100m
Total outstanding in the line: A$100m
Coupon type: fixed
Coupon rate: 2.7%
Issue/re-offer price: 99.658%
Issue yield: 2.7675%
Margin to swap: 51bps/s-q
Margin to ACGB: 56.25bps/April 2023

Maturity date: 19 June 2023

Macquarie Group (Macquarie)

Macquarie issued a new, A$1bn multi tranche domestic bond on 8 December 2017.

Five year non call four year fixed
Volume: A$425m 
Total outstanding in this line: A$425m
Maturity date: 15 December 2022
Call date: 15 December 2021
Coupon rate: 3.25%
Issue/re-offer price: 99.948%
Issue yield: 3.264%
Margin to swap: 115/s-q

Five year non call four year FRN
Volume: A$325m
Total outstanding in this line: A$325m
Maturity date: 15 December 2022
Call date: 15 December 2021
Coupon rate: 3m BBSW +115bps
Issue/re-offer price: par
Margin to swap: 115bps/3m BBSW

10 year fixed
Volume: A$250m
Total outstanding in this line: A$250m
Maturity date: 15 December 2027
Coupon rate: 4.15%
Issue/re-offer price: 99.595%
Issue yield: 4.20%
Margin to swap: 162bps/3m BBSW

Maturity date: 15 December 2021

Nordic Investment Bank (NIB)

Nordic Investment Bank priced an increase to its 2027 kangaroo bond on 6 December 2017.

Volume: A$40m
Total outstanding in the line: A$150m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 102.585% (plus 1.067% accrued)
Issue yield: 2.99%
Margin to swap: 44bps/s-q
Margin to ACGB: 51.75bps/Apr 2027
Maturity date: 16 August 2027

Pepper Australia (Pepper)

Pepper issued a new, A$400m residential mortgage backed securities transaction, Pepper I-Prime 2017-3 Trust, on 7 December 2017. 



Province of Alberta
(Alberta)

Alberta priced an increase to its 2028 kangaroo bond on 7 December 2017.

Volume: A$60m
Total outstanding in the line: A$310m
Coupon type: fixed
Coupon rate: 3.6%
Issue/re-offer price: 103.713%
Issue yield: 3.175%
Margin to swap: 60bps/s-q
Margin to ACGB: 62.5bps/May 2027
Maturity date: 11 April 2028

Qudos Mutual

Qudos Mutual issued a new, $25m one year floating rate note on 11 December 2017.

Volume: A$25m
Total outstanding in the line: A$25m
Coupon type: FRN
Coupon rate: 3m BBSW +85bps
Issue/re-offer price: par
Margin to swap: 85bps/3m BBSW
Maturity date: 14 December 2018

Rentenbank

Rentenbank priced an increase to its 2028 kangaroo bond on 6 December 2017.

Volume: A$50m
Total outstanding in the line: A$475m
Coupon type: fixed
Coupon rate: 3.25%
Issue/re-offer price: 101.491% (plus 0.554% accrued)
Issue yield: 3.08%
Margin to swap: 48bps/s-q
Margin to ACGB: 52.5bps/May 2028
Maturity date: 12 April 2028

South Australian Government Financing Authority (SAFA)

SAFA priced an increase to its 2026 syndicated select line on 12 December 2017.

Volume: A$750m
Total outstanding in the line: A$1.75bn
Coupon type: fixed
Coupon rate: 3%
Issue/re-offer price: 100.243% (plus 1.207% accrued)
Issue yield: 2.9675%
Margin to EFP: 40bps
Maturity date: 20 July 2026

Think Tank Commercial Property Finance (Think Tank)

Think Tank issued a new, A$300m commercial mortgage backed securities transaction, Think Tank Series 2017-1 Trust, on 7 December 2017. 



Vodafone Group
(Vodafone)

Vodafone issued a new, A$1.15bn triple tranche kangaroo bond on 8 December 2017.

Five-year fixed
Volume: A$500m
Total outstanding in the line: A$500m
Coupon rate: 3.25% 
Maturity date: 13 December 2022
Issue/re-offer price: 99.966%
Issue yield: 3.2575%
Margin to swap: 105bps/s-q

Five-year FRN
Volume: A$200m
Total outstanding in the line: A$200m
Coupon rate: 3m BBSW +105bps
Maturity date: 13 December 2022
Issue/re-offer price: par
Margin to swap: 105bps/3m BBSW

10-year fixed
Volume: A$450m
Total outstanding in the line: A$450m
Coupon rate: 4.2%
Maturity date: 13 December 2027
Issue/re-offer price: 99.717%
Issue yield: 4.235%
Margin to swap: 165bps/s-q

Maturity date: 13 December 2022


Source: KangaNews

 

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