Wednesday 26 June 2019 by FIIG Securities New issues list

New Issues - 10 June to 21 June

New issues for the week ending Friday 21 June 2019, including: BOC, Barclays, BNG, CCB, IFC, Vicinity.

Bank of China Sydney Branch (BOC)

BOC Sydney prints A$100 million increase to November 2021 FRN

Volume: A$100m
Total outstanding in the line: A$650m
Coupon type: FRN
Coupon rate: 3m BBSW +103bps
Issue/re-offer price: 100.447% (plus 0.314% accrued)
Margin to swap: 86bp/3m BBSW
Maturity date: 15 November 2021

Barclays (Barclays)

Barclays prints A$800 million in multi-tranche senior kangaroo

Five-year fixed
Volume: A$300m
Total outstanding in the line: A$300m
Coupon rate: 3.25%
Issue/re-offer price: 99.817%
Issue yield: 3.29%
Margin to swap: 215bps/s-q

Five-year FRN
Volume: A$200m
Total outstanding in the line: A$200m
Coupon rate: 3m BBSW+215bps
Issue/re-offer price: par
Margin to swap: 215bps/3m BBSW

Ten-year fixed
Volume: A$300m
Total outstanding in the line: A$300m
Coupon rate: 4%
Issue/re-offer price: par
Issue yield: 4%
Margin to swap: 247bps/s-q

Maturity: 26 June 2029

BNG Bank (BNG)

BNG bank prints A$75 million April 2029 kangaroo tap

Volume: A$75m
Total outstanding in the line: A$555m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 111.506% 
Issue yield: 2.005%
Margin to swap: 52bps/s-q
Margin to ACGB: 63bps/April 2029
Maturity date: 26 April 2029

China Construction Bank Sydney Branch (CCB)  

CCB Sydney prints A$400 million three-year deal

Volume: A$400m
Total outstanding in the line: A$400m
Coupon type: FRN
Coupon rate: 3m BBSW +93bps
Issue/re-offer price: par
Margin to swap: 93bps/3m BBSW
Maturity date: 24 June 2022

International Finance Corporation (IFC)

Full pricing details on IFC’s A$150 million June 2029 kangaroo increase

Volume: A$150m
Total outstanding in the line: A$750m
Coupon type: fixed
Coupon rate: 3.15%
Issue/re-offer price: 111.912% 
Issue yield: 1.84%
Margin to swap: 42bps/s-q
Margin to ACGB: 54.65bps/April 2029
Maturity date: 26 June 2029

Vicinity Centres (Vicinity)

Vicinity prints A$400 million six-year dual-tranche deal

Floating-rate tranche
Volume: A$175m
Total outstanding in the line: A$175m
Coupon rate: 3m BBSW +142bps
Issue/re-offer price: par
Margin to swap: 142bps/3m BBSW

Fixed-rate tranche
Volume: A$225m
Total outstanding in the line: A$225m
Coupon rate: 2.6%
Issue/re-offer price: 99.711% 
Issue yield: 2.6525%
Margin to swap: 142bps/s-q

Maturity date: 27 June 2025

New issues for the week ending Friday 14 June 2019, including: CUA, Macquarie, NAB, Rentenbank
 

Credit Union Australia (CUA)

CUA prints A$50 million March 2022 tap

Volume: A$50m
Total outstanding in the line: A$250m
Coupon type: FRN
Coupon rate: 3m BBSW +123bps
Issue/re-offer price: 100.701% (plus 0.108% accrued)
Margin to swap: 96.5bps/3m BBSW
Maturity date: 4 March 2022

Macquarie Bank (Macquarie)

Macquarie bank prints A$2.25 billion multi-tranche senior domestic deal

One-year FRN tranche
Volume: A$750m
Total outstanding in the line: A$750m
Coupon rate: 3m BBSW +43bps
Issue/re-offer price: par
Margin to swap: 43bps/3m BBSW
Maturity date: 21 June 2020

Three-year FRN tranche
Volume: A$1.15bn
Total outstanding in the line: A$1.15bn
Coupon rate: 3m BBSW +75bps
Issue/re-offer price: par
Margin to swap: 75bps/3m BBSW
Maturity date: 21 June 2022

Three-year fixed-rate tranche
Volume: A$350m
Total outstanding in the line: A$350m
Coupon rate: 1.75%
Issue/re-offer price: 99.811% 
Issue yield: 1.815%
Margin to swap: 75bps/s-q
Maturity date: 21 June 2022

National Australia Bank (NAB)

Full pricing details on NAB’s A$2.5 billion five-year dual-tranche deal

Floating-rate tranche
Volume: A$2.25bn
Total outstanding in the line: A$2.25bn
Coupon rate: 3m BBSW +92bps
Issue/re-offer price: par
Margin to swap: 92bps/3m BBSW

Fixed-rate tranche 
Volume: A$250
Total outstanding in the line: A$250m
Coupon rate: 2.15%
Issue/re-offer price: 99.929% 
Issue yield: 2.165%
Margin to swap: 92bps/s-q

Maturity date: 19 June 2024

Rentenbank (Rentenbank)

Rentenbank prints A$100 million April 2024 Kangaroo increase

Volume: A$100m
Total outstanding in the line: A$1.475bn
Coupon type: fixed
Coupon rate: 4.75%
Issue/re-offer price: 114.689% (plus 0.921% accrued) 
Issue yield: 1.5825%
Margin to swap: 38bps/s-q
Margin to ACGB: 44.5bps/ April 2024
Margin to EFP: +49.5bps
Maturity date: 8 April 2024

Source: KangaNews

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