New issues for the period 2 - 8 September including: CBA prices a new RMBS deal and PMP is targeting A$35-40m through a four year fixed rate bond
Auckland Council
On 2 September, Auckland Council priced a new fixed rate deal at 79.25bps over the Australian Commonwealth Government Bond (ACGB).
Volume: A$100m
Coupon rate: 3.50%
Issue yield: 3.5525%
Maturity date: 9 March 2026
Corporaciόn Andina de Fomento (CAF)
CAF priced a A$50m increase to its existing fixed rate bond line on 3 September at 158bps over the ACGB.
Total outstanding in this line: A$325m
Coupon rate: 4.5%
Issue yield: 4.28%
Maturity date: 5 June 2025
Commonwealth Bank of Australia (CBA)
On 4 September, CBA priced a new residential mortgage backed securities (RMBS) deal, Medallion Trust Series 2015-2 across three tranches
| Class A1 | Class B | Class C |
| Volume | A$1.84bn | A$120m | A$40m |
| WAL | 2.8 years | 5.2 years | 9.3 years |
| Margin to swap | 1m BBSW+90bps | ND | ND |
J.P. Morgan Chase
The issuer added A$65m to its existing fixed rate bond line on 2 September. The increase was priced at 157bps over the ACGB.
Total outstanding in this line: A$240m
Coupon rate: 4.5%
Issue yield: 4.26%
Maturity date: 30 January 2026
Australia Pacific Airports Melbourne (Melbourne Airport)
Melbourne Airport have priced a seven year fixed rate deal on 8 September at 167.5bps over the ACGB.
Volume: A$250m
Coupon rate: 4%
Issue yield: 4%
Maturity date: 15 September 2022
Nederlandse Waterschapsbank (NWB)
NWB tapped its existing fixed rate bond line on 3 September, adding A$30m to the line at 74.5bps over the ACGB.
Total outstanding in this line: A$325m
Coupon rate: 3.40%
Issue yield: 3.4175%
Maturity date: 22 July 2025
PMP
FIIG is lead manager in a new issue from PMP. The issuer is targeting A$35-40m through a four year fixed rate bond, available to wholesale investors only.
Toronto Dominion Bank (TD Bank)
On 8 September, TD Bank priced a new floating rate note bond at 85bps over the Bank Bill Swap Rate (BBSW).
Volume: A$650m
Coupon rate: 3m BBSW +85bps
Issue/re-offer price: par
Maturity date: 17 September 2018
*Please note that FIIG may not trade in the above securities, contact your FIIG Representative for more information.
Source: KangaNews, FIIG Securities