Monday 29 October 2018 by Facilitation New issues list

New issues - week ending 26 October 2018

New issues for the week ending Friday 26 October 2018 including: BNG Bank, NWB Bank, Suncorp-Metway, The Export-Import Bank of Korea and TCV 

BNG Bank (BNG)
On Thursday, 25 October 2018, BNG Bank priced a A$30m tap to its April 2029 kangaroo bond

Volume: A$30 million (US$21.2 million)
Total outstanding in the line: A$230 million
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 100.243%
Issue yield: 3.2725%
Margin to swap: 52bp/s-q
Margin to ACGB: 60.5bp/April 2029
Maturity date: 26 April 2029

NWB Bank
On Tuesday 23 October, NWB printed A$260m May 2029 kangaroo bond.

Volume: A$260 million (US$183.7 million)
Total outstanding in the line: A$260 million
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 99.78% 
Issue yield: 3.3%
Margin to swap: 52bp/s-q
Margin to ACGB: 62bp/April 2029
Maturity date: 2 May 2029

Suncorp-Metway
On Wednesday 24 October, Suncorp-Metway printed A$500m increase to its August 2022 FRN.

Volume: A$500 million (US$354.9 million)
Total outstanding in this line: A$1 billion
Coupon type: FRN
Coupon rate: 3m BBSW +97bp
Issue/re-offer price: 100.331% (plus 0.609% accrued)
Margin to swap: 88bp/3m BBSW
Maturity date: 16 August 2022

The Export-Import Bank of Korea (KEXIM)
On Tuesday 23 October, KEXIM priced a A$500m five year kangaroo.

Volume: A$500 million (US$353.3 million)
Total outstanding in the line: A$500 million
Coupon type: FRN
Coupon rate: 3m BBSW +95bp
Issue/re-offer price: par
Margin to swap: 95bp/3m BBSW
Maturity date: 30 October 2023

Treasury Corporation of Victoria (TCV)On Tuesday 23 October, TCV priced a A$2bn three-year syndicated transaction.

Volume: A$2 billion (US$1.4 billion)
Total outstanding in the line: A$2 billion
Coupon type: fixed
Coupon rate: 2.25%
Issue/re-offer price: 99.856% 
Issue yield: 2.3%
Margin to EFP: 20bp
Margin to ACGB: 21bp/December 2021
Maturity date: 29 October 2021

Source: KangaNews

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