Wednesday 17 April 2019 by Facilitation New issues list

New Issues - 1 April to 12 April 2019

New issues for the week ending Friday 12 April 2019, including: BOC, IADB, KfW, Quebec, Rentenbank, Volkswagen, Woolworths.

Bank of China Sydney Branch (BOC)

Full pricing details on BOC Sydney’s A$600 million 3.5-year domestic deal

Volume: A$600m
Total outstanding in the line: A$600m
Coupon type: FRN
Coupon rate: 3m BBSW +100bps
Issue/re-offer price: par
Margin to swap: 100bps/3m BBSW
Maturity date: 17 October 2022

Inter-American Development Bank (IADB)

IADB prints A$500 million inaugural Kangaroo ‘eye’ bond

Volume: A$500m
Total outstanding in the line: A$500m
Coupon type: fixed
Coupon rate: 1.95%
Issue/re-offer price: 99.929% 
Issue yield: 1.965%
Margin to swap: 35bps/s-q
Margin to ACGB: 50.5bps/April 2024
Maturity date: 23 April 2024

KfW Bankengruppe (KfW)

KfW prices A$150 million increase to February 2025 Kangaroo

Volume: A$150m
Total outstanding in the line: A$1.7bn
Coupon type: fixed
Coupon rate: 4%
Issue/re-offer price: 110.591% (plus 0.541% accrued)
Issue yield: 2.0725%
Margin to swap: 41bps/s-q
Margin to ACGB: 47.75bps/April 2025
Maturity date: 27 February 2025

Province of Quebec (Quebec)

Quebec prints A$100 million October 2029 Kangaroo bond

Volume: A$100m
Total outstanding in the line: A$100m
Coupon type: fixed
Coupon rate: 2.6%
Issue/re-offer price: 99.317% 
Issue yield: 2.675%
Margin to swap: 62bps/s-q
Margin to ACGB: 80bps/November 2029
Maturity date: 18 October 2029

Rentenbank (Rentenbank)

Rentenbank prices A$50 million April 2028 Kangaroo Tap

Volume: A$50m
Total outstanding in the line: A$955m
Coupon type: fixed
Coupon rate: 3.25%
Issue/re-offer price: 107.296% 
Issue yield: 2.346%
Margin to swap: 41bps/s-q
Margin to ACGB: 49.5bps/May 2028
Maturity date: 12 April 2028

Volkswagen Financial Services Australia (Volkswagen)

Volkswagen Australia prints A$500 million four-year domestic deal

Volume: A$500m
Total outstanding in this line: A$500m
Coupon type: fixed
Coupon rate: 3.1%
Issue/re-offer price: 99.935% 
Issue yield: 3.1175%
Margin to swap: 155bps/s-q
Maturity date: 17 April 2023

Woolworths Group (Woolworths)

Woolworths bags A$400 million in five-year inaugural Green Bond

Volume: A$400m
Total outstanding in the line: A$400m
Coupon type: fixed
Coupon rate: 2.85%
Issue/re-offer price: 99.965%
Issue yield: 2.8575%
Margin to swap: 120bps/s-q
Maturity date: 23 April 2024

New issues for the week ending Friday 5 April 2019, including: ADB, BWP Trust, ECU, Rentenbank

Week ending Friday 5 April 2019

Asian Development Bank (ADB)

Full pricing details on ADB’s A$100 million August 2028 Kangaroo Tap

Volume: A$100m
Total outstanding in the line: A$1bn
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 107.96% 
Issue yield: 2.345%
Margin to swap: 41bps/s-q
Margin to ACGB: 51.5bps/May 2028
Maturity date: 8 August 2028

Asian Development Bank (ADB)

ADB prices further A$100 million increase to August 2028 Kangaroo

Volume: A$100m
Total outstanding in the line: A$1.1bn
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 107.674% 
Issue yield: 2.3775%
Margin to swap: 41bps/s-q
Margin to ACGB: 51.25bps/May 2028
Maturity date: 8 August 2028

Asian Development Bank (ADB)

ADB prices A$110 million increase to 2024 Kangaroo Green bond

Volume: A$110m
Total outstanding in the line: A$1.11bn
Coupon type: fixed
Coupon rate: 2.45%
Issue/re-offer price: 102.098%
Issue yield: 1.985%
Margin to swap: 34bps/s-q
Margin to ACGB: 46.9bps/April 2024
Maturity date: 17 January 2024

BWP Trust (BWP)

BWP Trust prints A$100 million seven-year deal

Volume: A$100m
Total outstanding in the line: A$100m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 99.659% 
Issue yield: 3.355%
Margin to swap: 150bps/s-q
Maturity date: 10 April 2026

Edith Cowan University (ECU)

ECU prices new A$120 million 10-year domestic deal

Volume: A$120m
Total outstanding in the line: A$120m
Coupon type: fixed
Coupon rate: 3%
Issue/re-offer price: 99.743% 
Issue yield: 3.03%
Margin to swap: 98bps/s-q
Maturity date: 11 April 2029

Rentenbank (Rentenbank)

Full pricing details on Rentenbank’s A$50 million April 2028 Kangaroo Tap

Volume: A$50m
Total outstanding in the line: A$905m
Coupon type: fixed
Coupon rate: 3.25%
Issue/re-offer price: 107.305% 
Issue yield: 2.345%
Margin to swap: 41bps/s-q
Margin to ACGB: 49bps/May 2028
Maturity date: 12 April 2028

Source: KangaNews