Tuesday 11 July 2017 by FIIG Research New issues list

New Issues

New issues for the period 4 July 2017 – 11 July 2017 including: Adelaide Airport, ANZ, Dexus Finance, European Investment Bank, Inter-American Development Bank and more

Adelaide Airport

Adelaide Airport issued a new, seven year floating rate note on 4 July 2017.

Volume: A$200m
Outstanding volume in this line: A$200m
Coupon type: floating rate note
Coupon rate: 3m BBSW +145bps
Issue/re offer price: par
Margin to swap: 145bps/3m BBSW
Maturity date: 12 July 2024

ANZ

ANZ priced an increase to its September 2027 bond on 7 July 2017.

Volume: A$75m
Outstanding volume in this line: A$225m
Coupon type: fixed
Coupon rate: 4.1%
Issue/re offer price: 101.962%
Issue yield: 3.865%
Margin to swap: 105bps
Maturity date: 28 September 2027 

Dexus Finance (Dexus)

Dexus priced an increase to its November 2022 bond on 5 July 2017.

Volume: A$60m
Outstanding volume in this line: A$160m
Coupon type: fixed
Coupon rate: 4.2%
Issue/re offer price: 102.348% (plus 0.73% accrued)
Issue yield: 3.525%
Margin to swap: 120bps
Maturity date: 9 November 2022

European Investment Bank (EIB)

EIB priced an increase to its August 2022 kangaroo bond on 6 July 2017.

Volume: A$250m
Outstanding volume in this line: A$1.5bn
Coupon type: fixed
Coupon rate: 5%
Issue/re offer price: 110.717% (plus 2.017% accrued)
Issue yield: 2.7325%
Margin to swap: 39bps
Margin to ACGB: 49.25bps/July 2022
Maturity date: 22 August 2022 

Inter-American Development Bank (IADB)

IADB priced an increase to its June 2026 kangaroo bond on 4 July 2017.

Volume: A$100m
Outstanding volume in this line: A$340m
Coupon type: fixed
Coupon rate: 4.25%
Issue/re offer price: 109.074%
Issue yield: 3.0775%
Margin to swap: 44bps
Margin to ACGB: 53.5bps/April 2026
Maturity date: 11 June 2026 

International Finance Corporation (IFC)

IFC issued a new, dual tranche kangaroo bond on 6 July 2017.

Tranche 1
Volume: A$200m
Outstanding volume in this line: A$1bn
Coupon type: fixed
Coupon rate: 2.8%
Issue/re offer price: 100.839% (plus 1.145% accrued)
Issue yield: 2.6225%
Margin to swap: 31bps
Margin to ACGB: 45bps/July 2022
Maturity date: 15 August 2022 

Tranche 2
Volume: A$150m
Outstanding volume in this line: A$250m
Coupon type: fixed
Coupon rate: 3.2%
Issue/re offer price: 99.975% (plus 0.752% accrued)
Issue yield: 3.2025%
Margin to swap: 45bps
Margin to ACGB: 63.25bps/April 2027
Maturity date: 18 October 2027 

Metropolitan Life Global Funding (MetLife)

MetLife priced a new, 10 year Australian dollar bond on 6 July 2017.

Volume: A$300m
Outstanding volume in this line: A$300m
Coupon type: fixed
Coupon rate: 4%
Issue/re offer price: 99.816%
Issue yield: 4.0225%
Margin to swap: 127bps
Margin to ACGB: 144.5bps/Apr 2027
Maturity date: 22 August 2022

NWB Bank (NWB)

NWB priced an increase to its July 2027 kangaroo bond on 4 July 2017.

Volume: A$15m
Outstanding volume in this line: A$125m
Coupon type: fixed
Coupon rate: 3.5%
Issue/re offer price: 100.779% (plus 1.663% accrued)
Issue yield: 3.4075%
Margin to swap: 63bps
Margin to ACGB: 80.125bps/April 2027
Maturity date: 20 July 2027 

Queensland Treasury Corporation (QTC)

QTC priced an increase to its August 2027 kangaroo bond on 6 July 2017.

Volume: A$750m
Outstanding volume in this line: A$3.29bn
Coupon type: fixed
Coupon rate: 2.75%
Issue/re offer price: 96.518% (plus 1.086% accrued)
Issue yield: 3.155%
Margin to ACGB: 58.5bps/Apr 2027
Maturity date: 20 August 2027

 

Source: KangaNews/FIIG Securities