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Tuesday 25 July 2017 by FIIG Research New issues list

New Issues

New issues for the period 18 July 2017 – 25 July 2017 including: Asian Development Bank, Auckland Council, CBA and John Deere Financial

Asian Development Bank (ADB)

ADB priced an increase to its 2032 kangaroo bond on 19 July 2017.

Volume: A$60m
Outstanding volume in this line: A$110m
Coupon type: fixed
Coupon rate: 2.9%
Issue/re offer price: 94.267% (plus 1.056% accrued)
Margin to swap: 70bps
Margin to ACGB: 81.75bps/Nov 2027
Maturity date: 23 March 2032

Auckland Council

Auckland Council priced an increase to its 2027 kangaroo bond on 19 July 2017.

Volume: A$50m
Outstanding volume in this line: A$250m
Coupon type: fixed
Coupon rate: 3.8%
Issue/re offer price: 103.851%
Issue yield: 3.4625%
Margin to swap: 45bps
Margin to ACGB: 64.75bps/April 2029
Maturity date: 23 March 2032

Commonwealth Bank of Australia (CBA)

CBA issued a new, A$1.85bn domestic bond on 18 July 2017.

Five year floating rate note
Volume: A$1.625bn
Outstanding volume in this line: A$1.625bn
Coupon rate: 3m BBSW +88bps
Issue/re offer price: par
Margin to swap: 88bps/3m BBSW
Maturity date: 25 July 2022

Five year fixed rate
Volume: A$125m
Outstanding volume in this line: A$125m
Coupon rate: 3.25%
Issue/re offer price: 99.787%
Issue yield: 3.2965%
Margin to swap: 88bps
Maturity date: 25 July 2022

10.5 year fixed rate
Volume: A$100m
Outstanding volume in this line: A$100m
Coupon rate: 3.75%
Issue/re offer price: 99.582%
Issue yield: 3.916%
Margin to swap: 105bps
Maturity date: 25 January 2028

John Deere Financial

John Deere issued a new, A$250m domestic bond on 19 July 2017.

Volume: A$250m
Outstanding volume in this line: A$250m
Coupon type: fixed
Coupon rate: 3.25%
Issue/re offer price: 99.840%
Issue yield: 3.285%
Margin to swap: 88bps
Maturity date: 15 July 2022

Source: KangaNews/FIIG Securities

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