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Tuesday 16 June 2015 by FIIG Research New issues list

New Issues

New issues from 10 June to 16 June 2015 including SCT Logistics with FIIG as the lead manager and full pricing on Pepper and BEN's RMBS deals

Bendigo and Adelaide Bank (BEN)

BEN has priced its first residential mortgage-backed securities (RMBS) of 2015 called, Torrens Series 2015-1 Trust. The deal has a total volume of 500m across six tranches.

Torrens Series 2015-1 Trust

	Class A1	Class A2	Class B
Volume	A$460.0m	A$11.75m	A$17.50m
WAL	3.1 years	3.1 years	5.9 years
Margin to swap	92bp/1m BBSW	99bp/1m BBSW	230bp/1m BBSW
	Class C	Class D	Class E
Volume	A$6.75m	A$1.75m	A$2.25m
WAL	5.9 years	5.9 years	5.9 years
Margin to swap	285bp/1m BBSW	400bp/1m BBSW	ND

Eurofima

On 11 June, the issuer priced a new fixed rate bond at 80.5bps over the Australian Commonwealth Government Bond (ACGB).

Volume: A$100m
Coupon rate: 3.9%
Issue yield: 3.9475%
Maturity date: 19 December 2025

Pepper Australia

Full pricing details for the issuers multicurrency RMBS deal were released on 10 June. The RMBS is across nine tranches and includes both USD and AUD denominations.

Pepper Residential Securities Trust No.14

	Class A1-u1	Class A1-a	Class A2
Volume	US$250m	A$61.0m	A$56.1m
WAL	1.0 years	2.3 years	2.3 years
Margin to swap	33bp/1m US Libor	105bp/1m BBSW	135bp/1m BBSW
	Class B	Class C	Class D
Volume	A$53.9m	A$20.9m	A$11.0m
WAL	4.2 years	4.2 years	4.2 years
Margin to swap	200bp/1m BBSW	ND	ND
	Class E	Class F	Class G
Volume	A$6.6m	A$8.2m	A$8.2 m
WAL	4.1 years	3.2 years	5.0 years
Margin to swap	ND	ND	ND

SCT Logistics (SCT)

Last Friday, SCT launched a new dual tranche deal: floating and fixed rate notes with FIIG as the lead manager.

Source: KangaNews, FIIG Securities

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