Wednesday 30 October 2019 by FIIG Securities New issues list

New Issues 14 - 25 October

New issues for the week ending Friday 18 October 2019, 

Australian Capital Territory (ACT) 
ACT prints A$1 billion syndicated 12-year deal

Volume: A$1bn
Total outstanding in the line: A$1bn
Coupon type: fixed
Coupon rate: 1.75%
Issue/re-offer price: 98.982%
Issue yield: 1.845%
Margin to EFP: +80bps
Margin to ACGB: 75.15bps/June 2031
Maturity date: 23 October 2031

DBS Bank (DBS) 
DBS Bank prints A$750 million three-year FRN covered bond

Volume: A$750m
Total outstanding in the line: A$750m
Coupon type: FRN
Coupon rate: 3m BBSW +52bps
Issue/re-offer price: par
Margin to swap: 52bps/3m BBSW
Maturity date: 25 October 2022

Teachers Mutual Bank  
Teachers Mutual Prints A$100 million three-year FRN

Volume: A$100m
Total outstanding in the line: A$100m
Coupon type: FRN
Coupon rate: 3m BBSW +90bps
Issue/re-offer price: par
Margin to swap: 90bps/3m BBSW
Maturity date: 28 October 2022

New issues for the week ending Friday 25 October 2019

Bank of Queensland (BOQ)  
BOQ prices A$600 million five-year senior unsecured deal 

Floating-rate tranche
Volume: A$475m
Total outstanding in the line: A$475m
Coupon rate: 3m BBSW +110bps
Issue/re-offer price: par
Margin to swap: 110bps/3m BBSW

Fixed-rate tranche
Volume: A$125m
Total outstanding in the line: A$125m
Coupon rate: 2%
Issue/re-offer price: 99.917%
Issue yield: 2.0175%
Margin to swap: 110bps/s-q
Maturity date: 30 October 2024

Bank of Communications Sydney Branch (BOCOM)  
BOCOM Sydney prices A$350 million three-year FRN

Volume: A$350m
Total outstanding in the line: A$350m
Coupon type: FRN
Coupon rate: 3m BBSW +89bps
Issue/re-offer price: par
Margin to swap: 89bps/3m BBSW
Maturity date: 28 October 2022

Korea Southern Power  
Korea Southern Power prints five-year Kangaroo FRN

Volume: A$300m
Total outstanding in the line: A$300m
Coupon type: FRN
Coupon rate: 3m BBSW +97bps
Issue/re-offer price: par
Margin to swap: 97bps/3m BBSW
Maturity date: 30 October 2024

Province of Ontario (Ontario) 
Ontario adds A$150 million to its 2034 Kangaroo

Volume: A$150m
Total outstanding in the line: A$320m
Coupon type: fixed
Coupon rate: 2%
Issue/re-offer price: 97.246% (clean)
Issue yield: 2.2175%
Margin to swap: 69.5bps/s-q
Margin to ACGB: 81.25bps/June 2035
Maturity date: 3 October 2034

Tasmanian Public Finance Corporation (TASCORP) 
TASCORP prints A$450 million January 2030 deal

Volume: A$450m
Total outstanding in the line: A$450m
Coupon type: fixed
Coupon rate: 2%
Issue/re-offer price: 101.532% (plus 0.538% accrued)
Issue yield: 1.835%
Margin to EFP: +74bps
Margin to ACGB: 73bps/May 2030
Maturity date: 24 January 2030

United Energy Distribution (UED) 
UED prints A$300 million seven-year deal

Volume: A$300m
Total outstanding in the line: A$300m
Coupon type: fixed
Coupon rate: 2.2%
Issue/re-offer price: 99.758%
Issue yield: 2.2375%
Margin to swap: 113bps/s-q
Maturity date: 29 October 2026


Source: KangaNews

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