Tuesday 12 June 2018 by FIIG Research New issues list

New Issues

New issues for the period 6 June – 12 June 2018 including: AfDB, Barclays, EIB, Macquarie

African Development Bank (AfDB)

AfDB priced an increase to its 2033 kangaroo bond on 8 June 2018.

Volume: A$25m
Total outstanding in the line: A$100.4m
Coupon type: fixed
Coupon rate: 3.556%
Issue/re-offer price: 101.117%
Issue yield: 3.46%
Margin to swap: 41bps/s-q
Margin to ACGB: 44bps/April 2033
Maturity date: 9 August 2033

Barclays

Barclays issued a new, A$600m multi tranche kangaroo bond on 8 June 2018.

Five year fixed rate
Volume: A$200m 
Total outstanding in the line: A$200m
Coupon rate: 4.327%
Issue/re-offer price: par
Issue yield: 4.327%
Margin to swap: 180bps/s-q
Maturity date: 15 June 2023

Five year FRN
Volume: A$225m 
Total outstanding in the line: A$225m
Coupon rate: 3m BBSW +180bp
Issue/re-offer price: par
Margin to swap: 180bps/3m BBSW
Maturity date: 15 June 2023

10 year fixed rate
Volume: A$175m 
Total outstanding in the line: A$175m
Coupon rate: 5.244%
Issue/re-offer price: par
Issue yield: 5.244%
Margin to swap: 235bps/s-q
Maturity date: 15 June 2028

European Investment Bank (EIB)

EIB issued a new, A$250m 11 year kangaroo bond on 7 June 2018.

Volume: A$250m
Total outstanding in the line: A$250m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 99.363% (plus 0.215% accrued)
Issue yield: 3.37%
Margin to swap: 45bps/s-q
Margin to ACGB: 52.75bps/April 2029
Maturity date: 25 May 2029

Macquarie Group (Macquarie)

Macquarie issued a new, A$1bn AT1 capital notes transaction on 7 June 2018.

Volume: A$1bn
Total outstanding in the line: A$1bn
Coupon type: FRN
Coupon rate: 3m BBSW +400bps
Issue/re-offer price: par
Margin to swap: 400bps/3m BBSW
Optional call date: 16 December 2024
Mandatory exchange date: 15 December 2027

Source: KangaNews


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