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Tuesday 05 December 2017 by FIIG Research New issues list

New Issues

New issues for the period 28 November – 5 December 2017 including: ANZ, BoCOM, CAF, CUA, Endeavour, HSBC, Liberty, Multinet Gas, OKB, RedZed, Toyota, UOW

ANZ Banking Group (ANZ)

ANZ issued a new, A$650m floating rate note on 30 November 2017.

Volume: A$650m
Total outstanding in the line: A$650m
Coupon type: FRN
Coupon rate: 3m BBSW +25bps
Issue/re-offer price: par
Margin to swap: 25bps/3m BBSW
Maturity date: 6 December 2018

Bank of Communications Sydney Branch (BoCOM)

BoCOM priced an increase to its 2018 domestic bond on 28 November 2017.

Volume: A$50m
Total outstanding in the line: A$170m
Coupon type: FRN
Coupon rate: 3m BBSW +62bps
Issue/re-offer price: 100.024% (minus 0.045% accrued)
Margin to swap: 60bps/3m BBSW
Maturity date: 10 December 2018

CAF – Development Bank of Latin America (CAF)

CAF priced an increase to its 2027 kangaroo bond on 28 November 2017.

Volume: A$75m
Total outstanding in the line: A$250m
Coupon type: fixed
Coupon rate: 4.5%
Issue/re-offer price: 104.77% (plus 1.019% accrued)
Issue yield: 3.9075%
Margin to swap: 138bps/s-q
Margin to ACGB: 145.25bps/April 2027
Maturity date: 14 September 2027

Credit Union Australia (CUA)

CUA issued a new, $100m one year floating rate note on 27 November 2017.

Volume: A$100m
Total outstanding in the line: A$100m
Coupon type: FRN
Coupon rate: 3m BBSW +72bps
Issue/re-offer price: par
Margin to swap: 72bps/3m BBSW
Maturity date: 7 December 2018

Endeavour Energy Group (Endeavour Energy)

Network Finance Company, the financing arm of Endeavour issued a new, A$350m domestic debut bond on 29 November 2017.

Fixed-rate tranche
Volume: A$250m
Total outstanding in this line: A$250m
Coupon rate: 3.5%
Issue/re-offer price: 99.490%
Issue yield: 3.584%
Margin to swap: 123bps/s-q
Maturity date: 6 December 2024

Floating rate tranche
Volume: A$100m
Total outstanding in this line: A$100m
Coupon rate: 3m BBSW +123bps
Issue/re-offer price: par
Margin to swap: 123bps/3m BBSW
Maturity date: 6 December 2024

HSBC Sydney Branch (HSBC)

HSBC issued a new, $1bn dual tranche floating rate note on 28 November 2018.

Three-year tranche
Volume: A$500m
Total outstanding in the line: A$500m
Maturity date: 7 December 2020
Coupon type: FRN
Coupon rate: 3m BBSW +60bps
Issue/re-offer price: par
Margin to swap: 60bps/3m BBSW
Maturity date: 7 December 2020

Five-year tranche
Volume: A$500m
Total outstanding in the line: A$500m
Maturity date: 7 December 2022
Coupon type: FRN
Coupon rate: 3m BBSW +80bps
Issue/re-offer price: par
Margin to swap: 80bps/3m BBSW
Maturity date: 7 December 2022

Liberty Financial (Liberty)

Liberty issued a new, A$300m auto asset backed securities transaction, Liberty Series 2017-1 Auto, on 30 November 2017.

Multinet Gas

Energy Partnership Gas, the financing arm of Multinet Gas issued a new, A$265m seven year domestic bond on 1 December 2017.

Volume: A$265m
Total outstanding in this line: A$265m
Coupon type: fixed
Coupon rate: 3.642%
Issue/re-offer price: par
Issue yield: 3.642%
Margin to swap: 125bps/s-q
Maturity date: 11 December 2024

Oesterreichische Kontrolbank (OKB)

OKB priced an increase to its 2027 kangaroo bond on 1 December 2017.

Volume: A$30m
Total outstanding in the line: A$130m
Coupon type: fixed
Coupon rate: 3.5%
Issue/re-offer price: 102.660%
Issue yield: 3.1775%
Margin to swap: 61bps/s-q
Margin to ACGB: 69.25bps/April 2027
Maturity date: 3 August 2027

RedZed Lending Solutions (RedZed)

RedZed issued a new, A$250 residential mortgage backed securities transaction, RedZed Trust Series 2017-2, on 29 November 2017.

Toyota Finance Australia (Toyota)

Toyota issued a new, A$175m three year domestic bond on 30 November 2017.

Volume: A$175m
Total outstanding in the line: A$175m
Coupon type: fixed
Coupon rate: 2.5%
Issue/re-offer price: 99.728%
Issue yield: 2.595%
Margin to swap: 60bps/s-q
Maturity date: 7 December 2020

University of Wollongong (UOW)

UOW issued a new, A$175m 10 year domestic bond on 1 December 2017.

Volume: A$175m
Total outstanding in the line: A$175m
Coupon type: fixed
Coupon rate: 3.5%
Issue/re-offer price: 99.686%
Issue yield: 3.5375%
Margin to swap: 92bps/s-q
Maturity date: 8 December 2027

Source: KangaNews

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