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Tuesday 23 February 2016 by FIIG Research New issues list

New issues

New issues for the period 17 - 23 February 2016 including: a new fixed rate bond from BNG bank, NAB prices a new FRN and a number of increases to existing fixed rate bond lines

BNG Bank

On 16 February, BNG priced a new fixed rate bond at 75.75 basis points (bps) over the Australian Commonwealth Government Bond (ACGB).

Volume: A$50m
Coupon rate: 3.25%
Issue yield: 3.2875%
Maturity date: 24 August 2026

International Finance Corporation (IFC)

IFC priced an A$35m increase to its existing fixed rate line on 17 February.

Total outstanding in this line: A$210m
Coupon rate: 3.2%
Issue yield: 3.015%
Maturity date: 22 July 2026

Kommunalbanken Norway (KBN)

On 16 February, KBN priced a A$40m increase to its existing fixed rate bond.

Total outstanding in this line: A$915m
Coupon rate: 4.25%
Issue yield: 3.105%
Maturity date: 16 July 2025

KfW Bankengruppe (KfW)

KfW added A$200m to its existing fixed rate bond line on 18 February.

Total outstanding in this line: A$1.5bn
Coupon rate: 4%
Issue yield: 2.4675%
Maturity date: 16 January 2019

National Australia Bank (NAB)

On 18 February, NAB priced a new floating rate note at 98bps over the 3 month bank bill swap rate (3m BBSW).

Volume: A$2.25bn
Coupon rate: 98bps + 3m BBSW
Issue/re-offer price: par
Maturity date: 25 February 2019

Please note that FIIG may not trade in all of the above securities, contact your FIIG representative for more information.

Source: KangaNews, FIIG Securities

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