Wednesday 17 October 2018 by Facilitation New issues list

New Issues

New issues for the period 10 October – 17 October 2018 including: Bendigo and Adelaide Bank, Centuria, IFC, Korea Development Bank and QTC

Bendigo and Adelaide Bank (BEN)

On Tuesday 9 October, BEN issued an A$500m 3.25 year FRN.

Volume: A$500m (US$354.4m)
Total outstanding in the line: A$500m
Coupon type: FRN
Coupon rate: 3m BBSW +101bp
Issue/re-offer price: par
Margin to swap: 101bp/3m BBSW
Maturity date: 19 January 2022


Centuria Capital No. 2 Fund

Centuria priced an A$80m dual tranche 4.5 year domestic deal on Friday, 12 October 2018.

Total volume: A$80m (US$57m)
Fixed rate tranche
Volume: A$45m
Total outstanding in the line: A$45m
Coupon rate: 6.5%
Issue/re-offer price: par
Issue yield: 6.5%
Margin to swap: ND

FRN tranche
Volume: A$35m
Total outstanding in the line: A$35m
Coupon rate: 3m BBSW +425bp
Issue/re-offer price: par
Margin to swap: 425bp/3m BBSW

Maturity date: 21 April 2023


International Finance Corporation (IFC)

On Wednesday 10 October, IFC priced A$75m October 2027 kangaroo increase.

Volume: A$75m (US$53.4m)
Total outstanding in the line: A$1bn
Coupon type: fixed
Coupon rate: 3.2%
Issue/re-offer price: 100.467% 
Issue yield: 3.14%
Margin to swap: 40bp/s-q
Margin to ACGB: 48.25bp/April 2027

Maturity date: 18 October 2027


Korea Development Bank (KDB)

KDB priced A$400 million five year kangaroo on Friday, 12 October 2018.

Volume: A$400 million (US$284.8 million)
Total outstanding in the line: A$400 million
Coupon type: FRN
Coupon rate: 3m BBSW +98bp
Issue/re-offer price: par
Margin to swap: 98bp/3m BBSW

Maturity date: 19 October 2023


Queensland Treasury Corporation (QTC)

QTC priced A$2.25bn 2029 syndicated transaction on Thursday 11 October.

Volume: A$2.25bn (US$1.5bn)
Total outstanding in the line: A$2.25bn
Coupon type: fixed
Coupon rate: 3.25%
Issue/re-offer price: 99.274% (plus 0.512% accrued) 
Issue yield: 3.33%
Margin to EFP: +59bp
Margin to ACGB: 60.1bp/April 2029

Maturity date: 21 August 2029

Source: KangaNews

Get your free copy of The Benefits of Corporate Bonds eBook

Get a copy of The Benefits of Corporate Bonds eBook

Subscribe to The WIRE newsletter

Sign up to a free weekly newsletter to get the latest investment news.