Wednesday 03 April 2019 by Facilitation New issues list

New Issues - 18 March to 29 March 2019

New issues for the week ending Friday 29 March 2019, including: IADB, KfW, Macquarie, Peet, World Bank.

Inter-American Development Bank (IADB)

IADB prices A$100 million August 2024 Kangaroo tap

Volume: A$100m
Total outstanding in the line: A$1.2bn
Coupon type: fixed
Coupon rate: 4.75%
Issue/re-offer price: 114.134% 
Issue yield: 1.9775%
Margin to swap: 38bps/s-q
Margin to ACGB: 48.5bps/April 2024
Maturity date: 27 August 2024

KfW Bankengruppe (KfW)

Full pricing details on KFW’s August 2020 Kangaroo tap

Volume: A$100m
Total outstanding in this line: A$3bn
Coupon type: fixed
Coupon rate: 6%
Issue/re-offer price: 105.779%
Issue yield: 1.745%
Margin to swap: 24bps/s-q
Margin to ACGB: 15.5bps/April 2020
Maturity date: 20 August 2020

Macquarie Group (Macquarie)

Macquarie Group closes A$905.5 million AT1 deal

Volume: A$905.5m
Total outstanding in the line: A$905.5m
Coupon type: FRN
Coupon rate: 3m BBSW +415bps
Issue/re-offer price: par
Margin to swap: 415bps/3m BBSW
Maturity date: 10 September 2029

Peet (Peet)

Peet prices A$75 million five-year domestic deal

Volume: A$75m
Total outstanding in the line: A$75m
Coupon type: fixed
Coupon rate: 6.75%
Issue/re-offer price: par 
Issue yield: 6.75%
Margin to swap: NDMaturity date: 7 June 2024

World Bank (World Bank)

World Bank prints A$200 million increase to November 2025 Kangaroo Green bond

Volume: A$200m
Total outstanding in the line: A$500m
Coupon type: fixed
Coupon rate: 2.9%
Issue/re-offer price: 105.255% 
Issue yield: 2.05%
Margin to swap: 36bps/s-q
Margin to ACGB: 53.3bps/April 2025
Maturity date: 26 November 2025

New issues for the week ending Friday 22 March 2019, including: BNG, Eurofima, ICBC, IFC, IAG, NHFIC, NIB, OKB, TCV.

BNG Bank (BNG)

BNG prices A$75 million July 2028 Kangaroo Tap

Volume: A$75m
Total outstanding in the line: A$1.195bn
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 105.986% (plus 0.629% accrued)
Issue yield: 2.5725%
Margin to swap: 56bps/s-q
Margin to ACGB: 67.25bps/May 2028
Maturity date: 17 July 2028

EUROFIMA (Eurofima)

EUROFIMA adds A$25 million to May 2029 Kangaroo bond

Volume: A$25m
Total outstanding in this line: A$175m
Coupon type: fixed
Coupon rate: 3.35%
Issue/re-offer price: 105.714% (plus 1.157% accrued)
Issue yield: 2.7025%
Margin to swap: 62bps/s-q
Margin to ACGB: 76bps/April 2029
Maturity date: 21 May 2029

Industrial and Commercial Bank of China (ICBC)

ICBC Sydney prices A$500 million three-year FRN deal

Volume: A$500m
Total outstanding in this line: A$500m
Coupon type: FRN
Coupon rate: 3m BBSW + 100bps
Issue/re-offer price: par
Margin to swap: 100bps/3m BBSW
Maturity date: 29 March 2022

International Finance Corporation (IFC)

IFC prints A$25 million June 2029 Kangaroo Tap

Volume: A$25m
Total outstanding in this line: A$400m
Coupon type: fixed 
Coupon rate: 3.15%
Issue/re-offer price: 106.797% (plus 0.805% accrued) 
Issue yield: 2.3975%
Margin to swap: 42bps/s-q
Margin to ACGB: 55.75bps/April 2029
Maturity date: 26 June 2029

Insurance Australia Group (IAG)

Full pricing details on IAG’s A$450 million tier-two deal

Volume: A$450m
Total outstanding in the line: A$450m
Coupon type: FRN
Coupon rate: 3m BBSW +235bps
Issue/re-offer price: par
Margin to swap: 235bps/3m BBSW
Maturity date: 15 June 2045

National Housing Finance and Investment Corporation (NHFIC)

NHFIC prints A$315 million 10-year social bond

Volume: A$315m
Total outstanding in the line: A$315m
Coupon type: fixed
Coupon rate: 2.38%
Issue/re-offer price: par 
Issue yield: 2.38%
Margin to EFP: 48bps
Margin to ACGB: 48.3bps/April 2029
Maturity date: 28 March 2029

Nordic Investment Bank (NIB)

Full Pricing details on NIB’S A$25 million May 2029 Kangaroo tap

Volume: A$25m
Total outstanding in the line: A$75m
Coupon type: fixed
Coupon rate: 4.75%
Issue/re-offer price: 120.584% (plus 1.719% accrued) 
Issue yield: 2.445%
Margin to swap: 44bps/s-q
Margin to ACGB: 51.35bps/April 2029
Maturity date: 16 May 2029

Oesterreichhische Kontrollbank (OKB)

OKB prints A$45 million November 2028 Kangaroo increase

Volume: A$45m
Total outstanding in the line: A$175m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 107.23% 
Issue yield: 2.4525%
Margin to swap: 52bps/s-q
Margin to ACGB: 61.45bps/November 2028
Maturity date: 15 November 2028

Treasury Corporation of Victoria (TCV)

TCV prints A$2.5 billion in new 2029 benchmark

Volume: A$2.5bn
Total outstanding in this line: A$2.5bn
Coupon type: fixed
Coupon rate: 2.5%
Issue/re-offer price: par
Issue yield: 2.5%
Margin to ACGB: 55bps/Nov 2029
Maturity date: 22 October 2029

Source: KangaNews

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