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Tuesday 18 September 2018 by FIIG Research New issues list

New Issues

New issues for the period 11 September – 19 September 2018 including: AT&T, GPT, IFC, MUFG, SAFA, SocGen, TCORP, TDBank, RedZed

AT&T (AT&T)

AT&T priced a, A$1.325bn multi tranche kangaroo deal on 14 September 2018.

Source: KangaNews

GPT RE (GPT)

GPT priced a, A$200m six year deal on 12 September 2018.

Volume: A$200m
Total outstanding in the line: A$200m
Coupon type: fixed
Coupon rate: 3.6725%
Issue/re-offer price: par
Issue yield: 3.6725%
Margin to swap: 133bps/s-q
Maturity date: 19 September 2024

International Finance Corporation (IFC)

IFC priced a, A$75m October 2027 kangaroo tap on 14 September 2018.

Volume: A$75m
Total outstanding in the line: A$925m
Coupon type: fixed
Coupon rate: 3.2%
Issue/re-offer price: 101.537% (plus 1.364% accrued)
Issue yield: 3.005%
Margin to swap: 41bps/s-q
Margin to ACGB: 41.5bps/November 2027
Maturity date: 18 October 2027

International Finance Corporation (IFC)

IFC priced a, A$50m increase to its June 2029 kangaroo bond on 11 September 2018.

Volume: A$50m
Total outstanding in the line: A$250m
Coupon type: fixed
Coupon rate: 3.15%
Issue/re-offer price: 100.543% (plus 0.723% accrued)
Issue yield: 3.09%
Margin to swap: 42bps/s-q
Margin to ACGB: 50.75bps/April 2029
Maturity date: 26 June 2029

MUFG Bank Sydney Branch (MUFG)

MUFG printed a, A$750m three year deal on 11 September 2018.

Volume: A$750m
Total outstanding in the line: A$750m
Coupon type: Floating rate note
Coupon rate: 3m BBSW +85bps
Issue/re-offer price: par
Margin to swap: 85bp/3m BBSW
Maturity date: 20 September 2021

New South Wales Treasury Corporation (TCORP)

TCORP priced a new, A$120m March 2034 bond by syndication on 11 September 2018.

Volume: A$120m
Total outstanding in the line: A$120m
Coupon type: fixed
Coupon rate: 3.5%
Issue/re-offer price: 103.613%
Issue yield: 3.2025%
Margin to ACGB: 46bps/April 2033
Maturity date: 20 March 2034

Societe Generale (SocGen)

SocGen priced its, A$550m dual tranche senior non preferred deal on 14 September 2018.

Five year tranche
Volume: A$450m
Total outstanding in the line: A$450m
Maturity date: 20 September 2023
Coupon type: fixed
Coupon rate: 3.925%
Issue/re-offer price: par
Issue yield: 3.925%
Margin to swap: 165bps/s-q

10 year tranche
Volume: A$100m
Total outstanding in the line: A$100m
Maturity date: 20 September 2028
Coupon type: fixed
Coupon rate: 4.7%
Issue/re-offer price: par
Issue yield: 4.7%
Margin to swap: 203/s-q

South Australian Government Financing Authority (SAFA)

SAFA issued its, A$500m taps to September 2022 and July 2026 select lines on 12 September 2018.

September 2022 tranche
Volume: A$500m
Total outstanding in the line: A$2bn
Coupon type: fixed
Coupon rate: 1.5%
Issue/re-offer price: 96.466% (minus 0.016% accrued)
Issue yield: 2.43%
Margin to EFP: 41bps
Margin to ACGB: 37.75bps/July 2022
Maturity date: 22 September 2022

July 2026 tranche
Volume: A$500m
Total outstanding in the line: A$2.25bn
Coupon type: fixed
Coupon rate: 3%
Issue/re-offer price: 100.328% (plus 0.489% accrued)
Issue yield: 2.9525%
Margin to EFP: 37bps
Margin to ACGB: 49.75bps/April 202
Maturity date: 20 July 2026

Toronto Dominion Bank (TD Bank)

TD Bank issued a new, A$1bn kangaroo floating rate note on 12 September 2018.

Volume: A$1bn
Total outstanding in the line: A$1bn
Coupon type: Floating rate note
Coupon rate: 3m BBSW +73bps
Issue/re-offer price: par
Margin to swap: 73bps/3m BBSW
Maturity date: 20 September 2021

RedZed Lending Solutions (RedZed)

RedZed printed an A$375m residential mortgage backed securities transaction, RedZed Trust Series 2018-1 on 12 September 2018.

Source: KangaNews

Source: KangaNews

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