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Tuesday 31 March 2015 by FIIG Research New issues list

New Issues

New issues and updates for the week ending 31 March 2015

Bank of China Sydney Branch (BoC Sydney)

Last Friday, BoC Sydney priced a new issue across two tranches, fixed and floating set to mature in 9 April 2018.

Fixed tranche

Volume: A$200m
Coupon rate: 3.25%
Margin to swap: 125bps over semi quarterly swap.

Floating tranche

Volume: A$1.2bn
Coupon type: FRN
Coupon rate and margin to swap: 125bps + 3mBBSW

KfW Bankengruppe (KfW)

Last Thursday, KfW priced a new fixed rate deal at 57.5bps over the Australian Commonwealth Government Bond (ACGB).

Volume: A$600m
Coupon rate: 2.40%
Issue yield: 2.4425%
Maturity date: 2 July 2020

Liberty Financial (Liberty)

Liberty priced a new three year fixed deal on March 26. The deal is senior-unsecured and is an inaugural issue.

Volume: A$100m
Coupon rate: 3.75%
Issue yield: 3.9975%
Maturity date: 9 April 2018

Lloyds Bank

On March 27, Lloyds Bank issued a new five year deal with a total volume of A$600m across a fixed and a floating tranche.

Fixed tranche

Volume: A$400m
Coupon rate: 3.25%
Margin to swap: 110bps over semi quarterly swap.

Floating tranche

Volume: A$200m
Coupon type: FRN
Coupon rate and margin to swap: 110bps + 3mBBSW

Municipality Finance (MuniFin)

Yesterday, MuniFin added A$115m to its 2024 fixed rate bond line. The total outstanding amount in this line is A$425m priced at 62.75bps over the ACGB.

Volume: A$115m
Coupon rate: 5.00%
Issue yield: 2.91%
Maturity date: 20 March 2024

Source: KangaNews, FIIG Securities

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