Wednesday 07 November 2018 by FIIG Research New issues list

New issues - week ending 2 November 2018

Bank of Queensland (BOQ)

On Thursday, 01 November 2018, BOQ priced a $1bn Reds EHP 2018-1 ABS deal.

Note class: A
Tranche volume: A$779 million
Tranche rating: Aaa/AAA
WAL: 2.3 years
Margin to swap: 105bp/1m BBSW
Initial credit support: 22.1%

Note class: B
Tranche volume: A$221 million
Tranche rating: NR/NR
WAL: 2.8 years
Margin to swap: ND 
Initial credit support: N/A


Lendlease Group

On Friday, 02 November 2018, Lendlease priced a$500m dual tranche deal.

5.5-year tranche
Volume: A$300 million
Total outstanding in the line: A$300 million
Coupon type: fixed
Coupon rate: 4.25%
Issue/re-offer price: 99.467%
Issue yield: 4.36%
Margin to swap: 195bp/s-q

Maturity date: 9 May 2024

10-year tranche
Volume: A$200 million
Total outstanding in the line: A$200 million
Coupon type: fixed
Coupon rate: 5.2%
Issue/re-offer price: 99.557%

Maturity date: 9 November 2028

National Australia Bank (NAB)

On Thursday, 01 November 2018, NAB printed a$1bn increase to its September 2023 FRN.

Volume: A$1 billion (US$713.1 million)
Total outstanding in the line: A$2.725 billion
Coupon type: FRN
Coupon rate: 3m BBSW +93bp
Issue/re-offer price: 100.006% (plus 0.346% accrued) 
Margin to swap: 93bp/3m BBSW

Maturity date: 26 September 2023

 

NWB Bank (NWB)

On Tuesday, 30 October 2018, NWB printed a A$15m increase to its May 2029 kangaroo. The bank added a further A$25m on Thursday 1 November.

Volume: A$15 million (US$10.6 million)
Total outstanding in this line: A$275 million
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 100.886%
Issue yield: 3.2%
Margin to swap: 52bp/s-q
Margin to ACGB: 61.5bp/April 2029

Volume: A$25 million (US$17.8 million)
Total outstanding in the line: A$300 million
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 100.264%
Issue yield: 3.27%
Margin to swap: 52bp/s-q
Margin to ACGB: 61bp/April 2029

Maturity date: 2 May 2029

Source: KangaNews

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