Skip to Navigation
Skip to Content

The Wire

Brought to you by

Navigation Toggle Search Toggle

Education
Commentary
Research
Market Data

All Sections

Education
Commentary
Research
Market Data
Archive
- This week
- This month
- 2024
- 2023
- Older
Contributors
About

Search

The Wire

Wednesday 21 August 2019 by FIIG Securities New issues list

New Issues - 5 August to 16 August

New issues for the week ending Friday 16 August 2019, including: ACT, BNG, Eurofima, Rentenbank, WATC, World Bank.

Australian Capital Territory (ACT)

ACT prints A$1 billion May 2025 syndicated deal

Volume: A$1bn
Total outstanding in the line: A$1bn
Coupon type: fixed
Coupon rate: 1.25%
Issue/re-offer price: 100.499%
Issue yield: 1.16%
Margin to EFP: +50bps
Margin to ACGB: 42.4bps/April 2025

Maturity date: 22 May 2025

BNG Bank (BNG)

BNG Bank prints A$30 million April 2029 Kangaroo increase

Volume: A$30m
Total outstanding in the line: A$780m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 115.876%
Issue yield: 1.53%
Margin to swap: 52bps/s-q
Margin to ACGB: 55.75bps/April 2029

Maturity date: 26 April 2029

BNG Bank (BNG)

BNG Bank prints A$25 million April 2029 Kangaroo tap

Volume: A$25m
Total outstanding in the line: A$805m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 116.548%
Issue yield: 1.46%
Margin to swap: 52bps/s-q
Margin to ACGB: 56.7bps/April 2029

Maturity date: 26 April 2029

Eurofima (Eurofima)

Eurofima prints A$20 million May 2029 Kangaroo tap

Volume: A$20m
Total outstanding in the line: A$405m
Coupon type: fixed
Coupon rate: 3.35%
Issue/re-offer price: 116.441% (plus 0.856% accrued)
Issue yield: 1.5275%
Margin to swap: 62bps/s-q
Margin to ACGB: 65.4bps/April 2029

Maturity date: 21 May 2029

Rentenbank (Rentenbank)

Rentenbank prints A$75 million tap of May 2029 Kangaroo

Volume: A$75m
Total outstanding in the line: A$780m
Coupon type: fixed
Coupon rate: 4.75%
Issue/re-offer price: 122.926% (plus 1.41% accrued)
Issue yield: 1.1825%
Margin to swap: 44bps/s-q
Margin to ACGB: 42.75bps/April 2026

Maturity date: 6 May 2026

Western Australian Treasury Corporation (WATC)

WATC prints A$1.1 billion syndicated February 2024 FRN deal

Volume: A$1.1bn
Total outstanding in the line: A$1.1bn
Coupon type: FRN
Coupon rate: 3m BBSW +24bps
Issue/re-offer price: par
Margin to swap: 24bps/3m BBSW

Maturity date: 21 February 2024

World Bank (World Bank)

World Bank prints A$50 million bond-I Kangaroo tap

Volume: A$50m
Total outstanding in the line: A$160m
Coupon type: fixed
Coupon rate: 2.2%
Issue/re-offer price: 101.318%
Issue yield: 0.915%
Margin to swap: 18bps/s-q
Margin to ACGB: 5bps/April 2020

Maturity date: 28 August 2020

New issues for the week ending Friday 9 August 2019, including: ADB, BNG, ING, NWB, Police Bank, OIC.

Asian Development Bank (ADB)

ADB prices A$350 million five-year Kangaroo deal

Volume: A$350m
Total outstanding in the line: A$350m
Coupon type: fixed
Coupon rate: 1.1%
Issue/re-offer price: 99.855%
Issue yield: 1.13%
Margin to swap: 35bps/s-q
Margin to ACGB: 44bps/April 2024

Maturity date: 15 August 2024

BNG Bank (BNG)

BNG Bank prices A$25 million April 2029 Kangaroo increase

Volume: A$25m
Total outstanding in the line: A$750m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 115.268%
Issue yield: 1.595%
Margin to swap: 52bps/s-q
Margin to ACGB: 57.75bps/April 2029

Maturity date: 26 April 2029

ING Bank Australia (ING)

ING Australia prints A$750 million five-year dual-tranche covered bond

Fixed-rate tranche
Volume: A$500m
Total outstanding in the line: A$500m
Coupon rate: 1.45%
Issue/re-offer price: 99.976%
Issue yield: 1.455%
Margin to swap: 67bps/s-q

Floating-rate tranche
Volume: A$250m
Total outstanding in the line: A$250m
Coupon rate: 3m BBSW +67bps
Issue/re-offer price: par
Margin to swap: 67bps/3m BBSW

Maturity date: 20 August 2024

NWB Bank (NWB)

NWB Bank prices A$50 million May 2029 Kangaroo increase

Volume: A$50m
Total outstanding in the line: A$695m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 115.436% (plus 0.933% accrued)
Issue yield: 1.58%
Margin to swap: 57.5bps/s-q
Margin to ACGB: 61.9bpsApril 2029

Maturity date: 2 May 2029

Police Bank (Police Bank)

Police Bank prints A$20 million one-year FRN deal

Volume: A$20m
Total outstanding in the line: A$20m
Coupon type: FRN
Coupon rate: 3m BBSW +50bps
Issue/re-offer price: par
Margin to swap: 50bps/3m BBSW

Maturity date: 16 August 2020

QIC Shopping Centre Fund (QIC)

QIC Shopping Centre Fund prices A$300 million six-year dual-tranche green bond

Fixed-rate tranche
Volume: A$200m
Total outstanding in the line: A$200m
Coupon rate: 2%
Issue/re-offer price: 99.383%
Issue yield: 2.11%
Margin to swap: 127bps/s-q

Floating-rate tranche
Volume: A$100m
Total outstanding in the line: A$100m
Coupon rate: 3m BBSW +127bps
Issue/re-offer price: par
Margin to swap: 127bps/3m BBSW

Maturity date: 15 August 2025

Source: KangaNews

Earn over 6% pa*
with Corporate Bonds

Superior returns with fixed income certainty

Subscribe to The WIRE
To contact FIIG about this article call 1800 01 01 81 or send us an enquiry

Posted in

Market Data
New issues list

FIIG Securities

FIIG Securities is Australia's largest fixed income specialist, providing investors with direct access to Corporate Bonds for 25 years.

Share

Discover the latest WIRE news

Sample portfolios update – April 2024

Trade Opportunities Sample portfolios update – April 2024

Read on The WIRE

Understanding the Semi-Government bond market

General Understanding the Semi-Government bond market

Read on The WIRE

FIIG Australian Bond Fund now open to all investors

Trade Opportunities FIIG Australian Bond Fund now open to all investors

Read on The WIRE

Sign up to The WIRE Financial Newsletter

The best of The WIRE delivered to your inbox. Subscribe now.

By submitting this form, you agree to receive marketing communications from FIIG.

Sign up to The WIRE Financial Newsletter

Categories

Company research
Company factsheets
Company updates
All issuers
Education (basics)
Education (advanced)
Opinion
Trade opportunities
Week in review
At FIIG

Transparency Report
Market Stats
New issues list

> View all

Popular

Back To Top

1800 01 01 81

At FIIG, fixed income is our sole focus. We enable investors and issuers to directly access a broad range of fixed income products and services. Not only do our customers have the most up to date market research and the expertise of our in-house professionals at their fingertips, they also have access to deposit rates from an extensive range of APRA regulated banks, credit unions and building societies. At FIIG we're guided in everything we do by our clear and single-minded purpose: Creating access to fixed income investments you can trust.

About FIIG

History
Our people
Fees and charges
Careers

Services

Bonds
Managed Income
Debt Capital
Private Debt
Money Markets

Offices

Sydney
Melbourne
Brisbane
Perth

Copyright © 2023 FIIG Securities Limited
ABN 68 085 661 632 | AFSL No 224659 | About us

LinkedIn Facebook Twitter Youtube Instagram

Disclaimer

The contents of this document are copyright. Other than under the Copyright Act 1968 (Cth), no part of it may be reproduced or distributed to a third party without FIIG’s prior written permission other than to the recipient’s accountants, tax advisors and lawyers for the purpose of the recipient obtaining advice prior to making any investment decision. FIIG asserts all of its intellectual property rights in relation to this document and reserves its rights to prosecute for breaches of those rights.
Certain statements contained in the information may be statements of future expectations and other forward-looking statements. These statements involve subjective judgement and analysis and may be based on third party sources and are subject to significant known and unknown uncertainties, risks and contingencies outside the control of the company which may cause actual results to vary materially from those expressed or implied by these forward looking statements. Forward-looking statements contained in the information regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. You should not place undue reliance on forward-looking statements, which speak only as of the date of this report. Opinions expressed are present opinions only and are subject to change without further notice.

No representation or warranty is given as to the accuracy or completeness of the information contained herein. There is no obligation to update, modify or amend the information or to otherwise notify the recipient if information, opinion, projection, forward-looking statement, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

FIIG shall not have any liability, contingent or otherwise, to any user of the information or to third parties, or any responsibility whatsoever, for the correctness, quality, accuracy, timeliness, pricing, reliability, performance or completeness of the information. In no event will FIIG be liable for any special, indirect, incidental or consequential damages which may be incurred or experienced on account of the user using information even if it has been advised of the possibility of such damages.

FIIG Securities Limited (‘FIIG’) provides general financial product advice only. As a result, this document, and any information or advice, has been provided by FIIG without taking account of your objectives, financial situation and needs. FIIG’s AFS Licence does not authorise it to give personal advice. Because of this, you should, before acting on any advice from FIIG, consider the appropriateness of the advice, having regard to your objectives, financial situation and needs. If this document, or any advice, relates to the acquisition, or possible acquisition, of a particular financial product, you should obtain a product disclosure statement relating to the product and consider the statement before making any decision about whether to acquire the product. Neither FIIG, nor any of its directors, authorised representatives, employees, or agents, makes any representation or warranty as to the reliability, accuracy, or completeness, of this document or any advice. Nor do they accept any liability or responsibility arising in any way (including negligence) for errors in, or omissions from, this document or advice. FIIG, its staff and related parties earn fees and revenue from dealing in the securities as principal or otherwise and may have an interest in any securities mentioned in this document. Any reference to credit ratings of companies, entities or financial products must only be relied upon by a ‘wholesale client’ as that term is defined in section 761G of the Corporations Act 2001 (Cth). FIIG strongly recommends that you seek independent accounting, financial, taxation, and legal advice, tailored to your specific objectives, financial situation or needs, prior to making any investment decision. FIIG does not provide tax advice and is not a registered tax agent or tax (financial) advisor, nor are any of FIIG’s staff or authorised representatives. FIIG does not make a market in the securities or products that may be referred to in this document. A copy of FIIG’s current Financial Services Guide is available at www.fiig.com.au/fsg.

An investment in notes or corporate bonds should not be compared to a bank deposit. Notes and corporate bonds have a greater risk of loss of some or all of an investor’s capital when compared to bank deposits. Past performance of any product described on any communication from FIIG is not a reliable indication of future performance. Forecasts contained in this document are predictive in character and based on assumptions such as a 2.5% p.a. assumed rate of inflation, foreign exchange rates or forward interest rate curves generally available at the time and no reliance should be placed on the accuracy of any forecast information. The actual results may differ substantially from the forecasts and are subject to change without further notice. FIIG is not licensed to provide foreign exchange hedging or deal in foreign exchange contracts services. FIIG may quote to you an estimated yield when you purchase a bond. This yield may be calculated by FIIG on either A) a yield to maturity date basis; or B) a yield to early redemption date basis. Some bond issuances include multiple early redemption dates and prices, therefore the realised yield earned by you on the bond may differ from the yield estimated or quoted by FIIG at the time of your purchase. The information in this document is strictly confidential. If you are not the intended recipient of the information contained in this document, you may not disclose or use the information in any way. No liability is accepted for any unauthorised use of the information contained in this document. FIIG is the owner of the copyright material in this document unless otherwise specified.

The FIIG research analyst certifies that any views expressed in this document accurately reflect their views about the companies and financial products referred to in this document and that their remuneration is not directly or indirectly related to the views of the research analyst. This document is not available for distribution outside Australia and New Zealand and may not be passed on to any third party without the prior written consent of FIIG. FIIG, its directors and employees and related parties may have an interest in the company and any securities issued by the company and earn fees or revenue in relation to dealing in those securities.