Wednesday 24 July 2019 by FIIG Securities New issues list

New Issues - 8 July to 19 July

New issues for the week ending Friday 19 July 2019, including: ANZ, BNG, EIB, Eurofima, IFC, KFW, NRW, UOB.

ANZ Banking Group (ANZ)

ANZ nets A$1.75 billion in 10NC5 tier-two deal

Volume: A$1.75bn
Total outstanding in the line: A$1.75bn
Coupon type: FRN
Coupon rate: 3m BBSW +200bps
Issue/re-offer price: par
Margin to swap: 200bps/3m BBSW
Maturity date: 26 July 2029

BNG Bank (BNG)

BNG Bank prints A$100 million tap of November 2025 Kangaroo sustainability bond 

Volume: A$100m
Total outstanding in the line: A$400m
Coupon type: fixed
Coupon rate: 1.9%
Issue/re-offer price: 100.806% (plus 0.294% accrued) 
Issue yield: 1.765%
Margin to swap: 45bps/s-q
Margin to ACGB: 60.6bps/April 2025
Maturity date: 26 November 2025

BNG Bank (BNG)

BNG Bank prints A$25 million April 2029 tap

Volume: A$25m
Total outstanding in the line: A$680m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 111.934% 
Issue yield: 1.95%
Margin to swap: 52bps/s-q
Margin to ACGB: 61.2bps/April 2029
Maturity date: 26 April 2029

European Investment Bank (EIB)

EIB prints A$300 million 4.5-year Kangaroo bond

Volume: A$300m
Total outstanding in the line: A$300m
Coupon type: fixed
Coupon rate: 1.45%
Issue/re-offer price: par 
Issue yield: 1.45%
Margin to swap: 35bps/s-q
Margin to ACGB: 43.15bps/April 2024
Maturity date: 25 January 2024

Eurofima (Eurofima)  

Eurofima adds A$20 million to May 2029 Kangaroo

Volume: A$20m
Total outstanding in the line: A$315m
Coupon type: fixed
Coupon rate: 3.35%
Issue/re-offer price: 111.558% (plus 0.592% accrued) 
Issue yield: 2.045%
Margin to swap: 62bps/s-q
Margin to ACGB: 70.2bps/April 2029
Maturity date: 21 May 2029

International Finance Corporation (IFC)

IFC prints A$25 million June 2029 increase

Volume: A$25m
Total outstanding in the line: A$825m
Coupon type: fixed
Coupon rate: 3.15%
Issue/re-offer price: 111.406% (plus 0.293% accrued) 
Issue yield: 1.8825%
Margin to swap: 43bps/s-q
Margin to ACGB: 54.1bps/April 2029
Maturity date: 26 June 2029

KfW Bankengruppe (KFW)

KFW prints A$450 million five-year Green Kangaroo bond

Volume: A$450m
Total outstanding in the line: A$450m
Coupon type: fixed
Coupon rate: 1.5%
Issue/re-offer price: 99.952% 
Issue yield: 1.51%
Margin to swap: 36bps/s-q
Margin to ACGB: 49bps/April 2024
Margin to EFP: 58bps
Maturity date: 24 July 2024

NRW.BANK (NRW)

NRW.BANK prices A$450 million five-year Kangaroo deal 

Volume: A$450m
Total outstanding in the line: A$450m
Coupon type: fixed
Coupon rate: 1.6%
Issue/re-offer price: 99.809% 
Issue yield: 1.64%
Margin to swap: 52bps/s-q
Margin to ACGB: 63.35bps/April 2024
Margin to EFP: +74bps
Maturity date: 31 July 2024

United Overseas Bank Sydney Branch (UOB)

UOB Sydney prints A$500 million three-year domestic FRN

Volume: A$500m
Total outstanding in the line: A$500m
Coupon type: FRN
Coupon rate: 3m BBSW +53bps
Issue/re-offer price: par
Margin to swap: 53bps/3m BBSW
Maturity date: 25 July 2022

Source: KangaNews

New issues for the week ending Friday 12 July 2019, including: BMO, BNG, IADB, IFC.


Bank of Montreal
(BMO)

BMO prices A$750 million in five-year dual-tranche bail-in Kangaroo deal

Floating-rate tranche
Volume: A$450m
Total outstanding in the line: A$450m
Coupon rate: 3m BBSW +100bps
Issue/re-offer price: par
Margin to swap: 100bps/3m BBSW

Fixed-rate tranche
Volume: A$300m
Total outstanding in the line: A$300m
Coupon rate: 2.1%
Issue/re-offer price: 99.858% 
Issue yield: 2.13%
Margin to swap: 100bps/s-q

Maturity date: 17 July 2024

BNG Bank (BNG)

BNG Bank prices A$75 million April 2029 Kangaroo increase

Volume: A$75m
Total outstanding in the line: A$655m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 111.202% 
Issue yield: 2.03%
Margin to swap: 52bps/s-q
Margin to ACGB: 59.4bps/April 2029
Maturity date: 26 April 2029

Inter-American Development Bank (IADB)

IADB prints A$500 million October 2025 Kangaroo tap

Volume: A$500m
Total outstanding in the line: A$1.195bn
Coupon type: fixed
Coupon rate: 2.75%
Issue/re-offer price: 106.590% (plus 0.624% accrued) 
Issue yield: 1.64%
Margin to swap: 37bps/s-q
Margin to ACGB: 49.65bps/April 2025
Maturity date: 30 October 2025

International Finance Corporation (IFC)

IFC prints A$750 million five-year Kangaroo

Volume: A$750m
Total outstanding in the line: A$750m
Coupon type: fixed
Coupon rate: 1.45%
Issue/re-offer price: 99.964% 
Issue yield: 1.4575%
Margin to swap: 34bps/s-q
Margin to ACGB: 44.85bps/April 2024
Maturity date: 22 July 2024 

International Finance Corporation (IFC)

IFC prints A$50 million June 2029 Kangaroo tap

Volume: A$50m
Total outstanding in the line: A$800m
Coupon type: fixed
Coupon rate: 3.15%
Issue/re-offer price: 111.681% 
Issue yield: 1.8575%
Margin to swap: 42bps/s-q
Margin to ACGB: 52.05bps/April 2029
Maturity date: 26 June 2029

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