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Tuesday 30 June 2015 by FIIG Research New issues list

New Issues

New issues from 23 June to 30 June 2015 including: Genworth Financial Mortgage Insurance, Rabobank and W.A. Stockwell

Genworth Financial Mortgage Insurance (Genworth)

On 24 June, Genworth priced a new Tier 2, floating rate note (FRN) issue.

Volume: A$200m
Coupon rate: 3mBBSW +350bps
Issue/reoffer price: par
Maturity date: 3 July 2025

Nederlandse Waterschapsbank (NWB)

NWB priced a A$30m increase to its 2025 fixed rate bond line on 29 June.

Total existing in this line: A$230m
Coupon rate: 3.40%
Issue yield: 3.6575%
Maturity date: 22 July 2025

Rabobank Nederland (Rabobank)

On June 25, Rabobank priced a new Tier 2 deal maturing 2 July 2025 across two tranches - fixed and floating rate.

Fixed rate tranche
Volume: A$225m
Coupon rate: 5.00%
Issue yield: 5.22%
Margin to swap: 250bp/s-q

Floating rate tranche
Volume: A$475m
Coupon rate: 3m BBSW+250bps
Issue/reoffer price: par
Margin to swap: 250bp/3m BBSW

W.A. Stockwell

On 30 June full pricing on Stockwell’s fixed rate issue was reported on, FIIG Securities was the lead manager in this transaction.

Volume: A$35m
Coupon rate: 7.75%
Issue/reoffer price: par
Maturity date: 29 June 2021

Source: KangaNews, FIIG Securities

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