New issues for the period 16 - 22 September including: Integrated Packaging Group's announcement of the launch of a new fixed rate issue with FIIG as the lead manager and more
Bank of Queensland (BOQ)
On 18 September, BOQ priced a new asset backed securities (ABS) transaction, Series 2015-1 REDS EHP Trust. The ABS issue has a total volume of A$750m across six tranches.
Series 2015-1 REDS EHP Trust
| Class A | Class B | Class C | Class D | Class E | Class seller note |
| Volume | A$592.50m | A$43.50m | A$36.00m | A$18.00m | A$18.75m | A$41.25m |
| WAL | 1.7 years | 2.2 years | 2.2 years | 2.2 years | 2.2 years | 2.2 years |
| Margin to swap | 1m BBSW+92bps | 1m BBSW+170bps | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
BNG Bank
On 16 September, BNG Bank added A$35m to its existing fixed rate bond line at 74bps over the Australian Commonwealth Government Bond (ACGB).
Total outstanding in the line: A$875m
Coupon rate: 3.25%
Issue yield: 3.53%
Maturity date: 15 July 2025
Industrial and Commercial Bank of China Sydney Branch (ICBC Sydney)
On 18 September, ICBC Sydney priced a new three year floating rate note issue at 115bps over the 3 month Bank Bill Swap Rate (BBSW).
Volume: A$300m
Coupon rate: 115 bps + 3m BBSW
Issue/re-offer price: par
Maturity date: 24 September 2018
Integrated Packaging Group (IPG)
On 18 September, IPG announced the launch of a new fixed rate issue for up to A$40m. FIIG is the lead manager of the four year senior unsecured issue. The bond is available to wholesale investors only with a minimum investment of A$50,000.
International Finance Corporation (IFC)
On 16 September, IFC priced an increase of A$25m to its existing fixed rate bond line.
Total outstanding in the line: A$875m
Coupon rate: 4%
Issue yield: 3.1725%
Maturity date: 3 April 2025
Liberty Financial (Liberty)
Liberty priced a new commercial mortgage backed securities (CMBS) transaction on 17 September. The total volume for the CMBS is A$300m across eight tranches.
Liberty Series 2015-1 SME
| Class A1 | Class A2 | Class B | Class C | Class D | Class E | Class F | Class G |
| Volume | A$195.0m | A$21.0m | A$32.0m | A$19.6m | A$12.7m | A$4.4m | A$5.6m | A$9.7m |
| WAL | 1.8 years | 3.7 years | 3.7 years | 3.7 years | 3.7 years | 3.7 years | 3.7 years | 4.0 years |
| Margin to swap | 1m BBSW+150bps | 1m BBSW+195bps | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
Oesterreichische Kontrollbank (OKB)
OKB priced an increase of A$25m to its existing fixed rate bond line on 16 September.
Total outstanding in the line: A$300m
Coupon rate: 3.20%
Issue yield: 3.4325%
Maturity date: 25 August 2025
*Please note that FIIG may not trade in the above securities, contact your FIIG Representative for more information.
Source: KangaNews, FIIG Securities