New issues for the period 25 November - 1 December including: Liberty Financial priced a new auto asset backed securities transaction across seven tranches
Intel Corporation (Intel)
Intel priced a new fixed rate bond across two tranches on 24 November. The total deal volume was A$800m and the first from the issuer in the Australian market.
Four year tranche
Volume: A$250m
Coupon rate: 3.25%
Issue yield: 3.27%
Maturity date: 1 December 2019
Seven year tranche
Volume: A$550m
Coupon rate: 4%
Issue yield: 4.05%
Maturity date: 1 December 2022
Liberty Financial (Liberty)
Liberty priced a new auto asset backed securities transaction on 27 November, Liberty Series 2015-1 Auto Trust. The A$200m is spread across seven tranches.
| Liberty Series 2015-1 Auto Trust |
| Note class | Tranche volume | WAL | Margin to swap |
| A1 | A$28m | 0.3 years | 1m BBSW + 65bps |
| A2 | A$118m | 1.8 years | 1m BBSW + 140bps |
| B | A$16m | 2.9 years | ND |
| C | A$12m | 2.9 years | ND |
| D | A$10m | 2.9 years | ND |
| E | A$6m | 2.9 years | ND |
Sumitomo Mitsui Banking Corporation Sydney Branch (SMBC Sydney)
On 26 November, SMBC Sydney priced a new floating rate note transaction at 115 basis points (bps) over the 3 month Bank Bill Swap Rate (3m BBSW).
Volume: A$600m
Coupon rate: 3m BBSW + 115bps
Issuer/re-offer price: par
Maturity date: 3 December 2018
*Please note that FIIG may not trade in the above securities, contact your FIIG Representative for more information.
Source: KangaNews, FIIG Securities