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Tuesday 10 March 2015 by FIIG Research New issues list

New Issues

New issues and updates for the week ending 10 March 2015

Bank of Tokyo Mitsubishi UFJ Sydney Branch (BoTM Sydney)

On March 6, BoTM Sydney priced a new senior unsecured transaction across two tranches; fixed and floating with the maturity date 13 March 2019.

Fixed rate tranche

Volume: A$150m
Coupon rate: 3.25%
Issue yield: 3.2675%

Floating rate tranche

Volume: A$600m
Coupon rate: 3mBBSW +97bps

Downer Group Finance (Downer)

Downer has returned to the market with a new fixed rate senior unsecured deal. The new deal matures in 2022 and is priced at an indicative 205bps over semi quarterly swap.

Volume: A$250m
Coupon rate: 4.50%
Issue yield: 4.6825%
Maturity date: 11 March 2022

Kommunalbanken Norway (KBN)

On Friday, KBN priced an increase of A$100m to its 2024 fixed rate Kangaroo bond - the total outstanding this line is now A$550m.

Volume: A$100m
Coupon rate: 5.25%
Issue yield: 3.145%
Maturity date: 15 July 2024

Queensland Treasury Corporation (QTC)

A week ago, QTC priced an increase of A$1.25bn to its 2018 floating rate note (FRN) line marking the first sydnidcated transaction for the issuer this year.

Volume: A$1.25bn (A$2.1bn outstanding in this line)
Coupon type: FRN
Coupon rate: 3mBBSW +6bps
Maturity date: 19 November 2018

Rentenbank

Rentenbank priced an increase to its fixed rate bond line last Wednesday, the increase was for A$150m in volume with a total of A$400m outstanding.

Volume: A$150m
Coupon rate: 2.70%
Issue yield: 2.91%
Maturity date: 5 September 2022

Yesterday, the issuer also added A$200m to its 2020 Kangaroo bond line with a total of A$1bn outstanding - details follow.

Volume: A$200m
Coupon rate: 2.70%
Issue yield: 2.63%
Maturity date: 20 January 2020

World Bank

World Bank launched a new fixed rate deal in the market at 44.25bps over the Australia government bond (ACGB) on March 4.

Volume: A$550m
Coupon rate: 2.50%
Issue yield: 2.5525%
Maturity date: 12 March 2020

Source: KangaNews, FIIG Securities

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